Good morning from the Financial Times.
Today is Monday, June 1st, and this is your FT News Briefing.
Intel is going back to basics with a new AI chip,
and the inflation shock from the Iran war might not be as severe as the one we saw in 2022. Plus,
the EU is watching warily as China flexes its manufacturing might in Morocco.
There is nervousness in Brussels and certainly a desire to send a signal that they don't want Morocco
and indeed other North African countries, Egypt, Algeria, to become proxy surrogates for Chinese dumping.
I'm Victoria Craig and here's the news you need to start your day.
Intel is hoping to secure its place in the AI infrastructure race.
By the end of this year, it plans to start shipping a new chip that will power artificial intelligence platforms,
one that will be cheaper to produce than ones made by its rivals, NVIDIA and AMD.
Michael Acton has the details on this one.
He covers the semiconductor industry for the FT and joins me now.
Hi, Michael.
Hi.
All right, so Intel told you that it's, quote, starting with the basics in a bid to challenge its rivals here.
Just walk us through.
What the plans are for the company?
So this is really about Intel's failure about four years ago to launch
a competitive product with the graphics processing units that NVIDIA has risen to power on.