🙀 Is Intel getting acquired?

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TOP STORY
🙀 Is Intel getting acquired?

We may soon witness one of the largest M&A deals in recent history.

Last week, chip giant Qualcomm approached Intel about a possible acquisition.

For those unfamiliar with the chip market, this would be a crazy move, merging two of the biggest players in the chip industry and completely reshaping the market.

Not to mention, it’ll cost a pretty penny, with Intel worth around $95 billion.

But if Intel is a major player and worth a lot, why sell? Because they’re in deep shit.

$95 billion is a significant drop for a company that, as recently as 2020, had a market value of over $290 billion.

What happened?  First, Intel had a disastrous Q2 report:

• Revenue was flat at $12.8 billion compared to the same quarter in 2023.

• Net loss of $1.61 billion, a 209% decrease from the $1.48 billion profit in Q2 2023.

• Loss per share was $0.38, down from a $0.35 profit in the same quarter in 2023.

Then, they had to lay off 15% of their workforce, cut capital expenditures, and suspend their dividend, which had been paid since 1992.

Qualcomm, on the other hand, has a market value of around $185 billion and is one of the most critical suppliers for Apple’s iPhones. 

If they partnered with Intel, Qualcomm could expand that reach to a range of different devices and continue their rise in the industry. 

It's not the only option, though…

Yesterday, Apollo Global Management offered to invest up to $5 billion in Intel, which would help the company in the short term. 

The chip industry is getting hotter by the day.

ENTERTAINMENT
❓️Netflix is racist?

India is reportedly investigating the "business practices" of Netflix's local operations in the country. 

This investigation includes potential visa violations and even racial discrimination.

• In a letter sent to Netflix’s former director of business and legal affairs for India, Nandini Mehta, we learned some of the details:

• "We have received certain details in this regard w.r.t (with respect to) the stated company's conduct, visa violation, illegal structures, tax evasion, and other malpractices, including incidents of racial discrimination that the company has been engaged in while conducting its business in India.”

We’re just going to sit back and observe by providing more details, of course.

What will Mehta do?

• Mehta will be pursuing a lawsuit against Netflix in the US for alleged wrongful termination and gender discrimination.

• And it’s not the first time she’s gone after Netflix for this. 

• In 2021, Mehta sued Netflix for wrongful termination, racial and gender discrimination, and other complaints.

But Netflix claimed she was fired not because of discrimination but because “she spent tens of thousands of dollars on her corporate credit card for personal expenses.”

Lol, talk about sticking it to the man. We’ll see if this lawsuit yields better results than her last.

ENTERTAINMENT
🍿 Movie theaters' billion-dollar makeover

Some of the largest theater chains are betting big on improvements.

Eight of the largest theater chains in the region plan to invest more than $2.2 billion to upgrade theaters across North America over the next three years. 

These chains, which include AMC, Regal Cinemas, and Cinemark, account for 67% of box office sales and over 21,000 screens.

What will these improvements look like?

• Sound, projection, seating, and dining experiences will all be upgraded in the new and improved theaters. 

• Some theaters will even introduce new attractions like pickleball, ziplines, and bowling alleys.

• You know, in case the movie on a 100-inch screen isn’t stimulating enough.

Why now? Movie theaters just aren’t as popular anymore.

Movie chains hope these unrelated add-ons can shake things up and get more people to the theatres.