Daily Crunch: Yep, Apple is buying Intel’s modem business

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1. Apple acquiring most of Intel’s smartphone modem business in $1B deal
Apple has entered into a deal to acquire a majority of Intel’s modem business, including Intel IP, equipment, leases and employees — it’s bringing over 2,200 new roles and 17,000 wireless technology patents.
The deal confirms earlier rumors that Apple would acquire the business in order to permanently uncouple itself from Qualcomm, the source of much contention for both parties over the last several years.
2. SoftBank announces AI-focused second $108 billion Vision Fund with LPs including Microsoft, Apple and Foxconn
Worth noting: The second Vision Fund’s list of expected limited partners does not currently include any participants from the Saudi Arabia government.
3. Twitter Q2 beats on sales of $841M and EPS of $0.20, new metric of mDAUs up to 139M
The U.S. continues to be Twitter’s revenue engine, the company said. It accounted for $455 million of its sales, up 24%, while international revenue was $386 million, up just 12%.
Daily Crunch: Yep, Apple is buying Intel’s modem business
(Photo by Cheriss May/NurPhoto via Getty Images)
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