20B is correct if you count the government loans too.
8 replies (most recent on top)
Maybe he finally got the answer to all of his prayers and it wasn't the answer he was expecting.
Just tell me what the cash on hand is and the bleed rate
Whoever listens to PG and believe anything he says needs to have their head examined.
I believe that Tan left because that was the only action that would wake up the rest of the board, to act boldly and with speed. In the cited conference at Dana Point yesterday, PG is much more sober and realistic.
PG, admits that heavier lifting was required on the foundry side than he originally anticipated. I believe that he realized that the home-grown team that was in place was not up to that challenge. He says that additional portfolio actions will play-out.
@kpr… where did you get the $20 billion from the government figure? It was $8.5 billion and most of that is in the form of tax breaks so you need to spend on growth in the US in order to get the return. CHIPS act wasn’t about retaining jobs.
Getting $20B from the government to help retain jobs and bolster R&D and manufacturing then turning around and laying off 15k people is extremely suspicious. He's got to put on his poker face when addressing that.