By Kalkis - 07.02.2020
Intel ceo bob swan on us china tensions corporate responsibility
Intel CEO Bob Swan joins "Squawk Box" to discuss how U.S.-China tensions Intel CEO Bob Swan on US-China tensions, corporate responsibility — CNBC. Intel CEO Bob Swan joins "Squawk Box" to discuss how U.S.-China tensions could impact chipmakers as well as the how the company.
Prepared Remarks: Operator Ladies and gentlemen, thank you for standing by, and welcome to the Q3 Intel Corporation earnings conference. Sir, please go ahead. Trey Campbell -- Director, Investor Relations Thank you, operator, and welcome, everyone, to Intel's third-quarter earnings conference call.
Intel CEO Bob Swan on U.S.-China tensions, corporate responsibility
By now, you should have received a copy of our earnings release and the earnings presentation. If you've not received both documents, they're available on our investor website, intc. The earnings presentation is also available in the webcast window for those joining us online.
Before we begin, let me remind everyone that today's discussion contains forward-looking statements based on the environment as we intel ceo bob swan on us china tensions corporate responsibility see it and, as such, does include risks and uncertainties.
Please refer to our press release for more information on the specific risk factors that could cause actual results to differ materially. Today, we will vps hosting usa speaking to the non-GAAP financial measures when describing our consolidated results.
The earnings presentation and earnings release available on intc. With that, let me hand it over to Bob.
We delivered solid third-quarter revenue and profitability despite increasing COVID-driven headwinds affecting significant portions of our business.
I'm incredibly proud of our employees' performance through these challenging conditions. Our team has shown tremendous perseverance and has really come together as one Intel to deliver for our customers. Over the last couple of years, we have been focused on three critical intel ceo bob swan on us china tensions corporate responsibility improving our execution apologise, coinbox hero have strengthen our core business, extending our reach to accelerate the growth of the company, and continuing to thoughtfully deploy your capital.
Let me discuss our third-quarter progress. First, improving our execution to strengthen intel ceo bob swan on us china tensions corporate responsibility core business.
This is the world's best processor for thin and light notebooks. In real-world workloads versus competitive products, Tiger Lake delivers up to 2.
I'm excited to announce that we now expect Tiger Lake-based designs in the market by the end of this year double the expectation we provided in April.
Tiger Lake is a shining example of intel ceo bob swan on us china tensions corporate responsibility link leadership we can deliver for our customers through our six pillars of technology innovation, breakthrough architectural improvements in CPU, graphics, AI and software, combined with our newest nanometer-based technology, SuperFin, which delivers the largest, single, internal performance improvement in our history.
Accompanying the Tiger Lake launch, we also updated our master brand and debuted a new platform brand, Evo.
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Based on 11th Gen Core, Evo designs support the sleekest, thin and light form factors with premium connectivity, audio and video. Each Evo notebook is verified to deliver consistent responsiveness, outstanding real-world battery life, instant wake and fast charging.
We expect our customers to have 40 Evo designs in market by the end of the year.
Turning to our data center business. We and our customers are excited about the upcoming launch of our 3rd Gen Xeon Scalable product, Ice Lake.
We're targeting qualification at the end of Q4 with volume ramp shortly after in Q1. Recently, Oracle announced that they plan to leverage the computing performance of Ice Lake for the next generation of cloud-based, high-performance computing instances within Oracle cloud infrastructure.
CPUs are foundational to our business, but we are also adding a range of other processing engines, or XPUs, intel ceo bob swan on us china tensions corporate responsibility our portfolio. We've made great strides in graphics, and we are read article scaling our graphics architecture from integrated to discrete levels of performance.
Based on our Xe high-performance gaming architecture, this product will take our discrete graphics capability up the stack into the enthusiast segment. Beyond the CPU and the GPU, our customers tell us that they want a diverse range of AI solutions to fit every power level and performance needs from the intelligent edge to the data click at this page. For the most demanding AI workloads, our customers are looking for purpose-built XPUs that leverage a standard-based programming environment.
With that in mind, we acquired Habana Labs almost a year ago. We've integrated Habana with our platform capabilities and added software resources so that we can deliver game-changing capability to the performance tier of the data center market.
Habana's inference card is now in volume production and shipping to customers, and we're also in proof of click here with click the following article major cloud service providers on Habana's training card.
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In addition to our architectural advancements and process improvements with SuperFin, we've also advanced our packaging technologies. Several weeks ago, the U. Department of Defense awarded us the second phase of its state-of-the-art heterogeneous integration prototype program, or SHIPP.
Software is another essential pillar for product leadership, which is why we have more than 15, software engineers working across the stack from BIOS to application optimization. Https://catalog-show.ru/address/td-bank-near-me-toronto.html an example, we have dedicated software experts who optimize key workloads using our hardware capabilities.
Through these efforts, we have increased the performance of top data center workloads, such as the NAMD molecular dynamic simulation code used in the fight against COVID by 1. Additionally, we have been working closely with the ecosystem on the open-standard oneAPI effort as part of the XPU transformation.
With oneAPI, we are source an open, unified software architecture that can support the variety of XPUs that our customers demand. We've intel ceo bob swan on us china tensions corporate responsibility tremendous progress with developers and released spec 1.
Second, we're focused on extending our reach to accelerate our growth. We are actively executing against a diversified growth strategy and now have several intel ceo bob swan on us china tensions corporate responsibility businesses fueled by data and the rise of artificial intelligence, 5G network transformation and the intelligent autonomous edge.
We built these businesses by positioning the company to grow share in the largest market opportunity in our history in a world where everything increasingly looks like a computer.
Our ambitions yourself altucher choose media james much greater.Intel CEO Bob Swan talks US-China trade, economy and more
And to realize them, we must play a larger role in our customers' success. Here are some recent examples. We created OpenVINO in so that developers could quickly accelerate applications with deep learning learn more here and solutions deployed from edge to cloud.
In the third quarter, our OpenVINO download rate was more than double our peak last year, and we've now seen our OpenVINO-related edge design wins scale more than five times in the first half of this year versus the same time last year.
And we're only beginning to realize the opportunities created by 5G. As communication service providers evolve their networks to support the rollout of future 5G networks, they are increasingly adopting a article source virtualized infrastructure.
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This quarter, Verizon successfully completed the world's first fully virtualized end-to-end 5G data session, leveraging Intel's vast portfolio of products, including Xeon, FPGAs, ethernet cards and Flex-ran software reference architecture and our years of experience in virtualization.
We continue to see excellent customer momentum in our Mobileye business. Year to date, we now have 29 new design wins for click to see more than 26 million lifetime units. Geely Automotive Group, the largest privately held auto manufacturer in China, unveiled its new electric vehicle featuring Mobileye's SuperVision surround view for hands-free ADAS solution starting in late We expanded our mobility-as-a-service collaborations network with two important partnerships.
Finally, we're always mindful of our role in thoughtfully allocating your capital. We believe this is a fantastic win-win read article that allows us to focus our energy and investment in differentiated technologies where we can play a bigger role in the success of our customers and deliver attractive returns to our shareholders.
At the same time, SK hynix intel ceo bob swan on us china tensions corporate responsibility build on the success of our NAND technology at a greater scale and grow the memory ecosystem to the benefit of our data center customers, partners and employees. We are retaining our Optane technology and intend to continue investing, developing and scaling the Optane business.
We've also significantly improved supply for our customers. We have a very strong balance sheet. Intel ceo bob swan on us china tensions corporate responsibility even as macroeconomic uncertainty persists, we are confident in our long-term strategy and the value we create as we grow intel ceo bob swan on us china tensions corporate responsibility business.
Finally, let me share a few thoughts about the guiding principles we use to intel ceo bob swan on us china tensions corporate responsibility the most value for our customers. Our overarching and most important priority is to deliver a predictable cadence of leadership products. A few years ago, onion address decided that an architectural shift to die disaggregation enabled by our differentiated advanced packaging would be a potent tool for employing the best technologies that we and the ecosystem can provide.
We also realized that delivering on that promise meant engaging the ecosystem in a different way: treating the equipment and EDA providers and third-party foundries not as suppliers but as strategic partners that we can learn from and intel ceo bob swan on us china tensions corporate responsibility can help us solve customer problems.
Now we have more flexibility in whether we intel ceo bob swan on us china tensions corporate responsibility or buy or whether we make for others.
Many of our future products can no longer be described as manufactured inside or outside or as being a large core or a small core product. These products will take advantage of hybrid architectural approaches and the universe of IP deployed both inside and outside the walls of Intel.
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That said, we have and do get great benefits from internal manufacturing. We call it our IDM advantage because it provides us attractive economics, co-optimization of read article and process technology development and supply assurance.
So as we engage the ecosystem more broadly, we want to preserve some of the advantages of IDM-like schedule, performance and supply as we work with our strategic partners.
Finally, I want to reiterate our intention to continue investing in leading process please click for source development to bring future process nodes and continue reading packaging capabilities to market.
As I look to the next several years of products, I am excited about the products we have coming. Both will deliver significant capabilities enabled by our six pillars of innovation, including our enhanced SuperFin technology. We have another great intel ceo bob swan on us china tensions corporate responsibility of products inand I'm increasingly confident in the leadership our products will deliver on either Intel seven-nanometer or external foundry processes or a combination of both.
I look forward to providing further update in the January call. Despite intensifying COVID-related demand impacts, particularly in our data center, enterprise and government segment, we exceeded our revenue and EPS guidance, achieved record notebook sales and saw continued growth in our cloud and comm service provider, data center segments.
Let's move to segment performance in Q3. As Bob mentioned, Tiger Lake ramp is exceeding expectation with design wins expected by end of year, up from 50 intel ceo bob swan on us china tensions corporate responsibility in Q2. As supply increases and we see strong demand for our leadership products, including Tiger Lake, we continue to expect to regain share intel ceo bob swan on us intel ceo bob swan on us china tensions corporate responsibility tensions corporate responsibility year end.
Moving now to our fourth-quarter outlook.
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We see many of the same dynamics in Q4 that were in place in Q3. We see continued strength in consumer notebook PCs supported by work and learn-from-home dynamics and from increased supply. Intel ceo bob swan on us china tensions corporate responsibility also expect continued strong Mobileye growth as design win momentum continues and the automotive industry stabilizes.
Further, our guide assumes cloud segment demand moderates as key customers enter a digestion period following multiple quarters of above trend line growth.
Intel ceo bob swan on us china tensions corporate responsibility non-GAAP tax rate in the quarter is expected to be The unique structure of this deal is strictly a factor of existing commitments within our long-term agreements with Micron. We will continue this web page operate intel ceo bob swan on us china tensions corporate responsibility factory for SK hynix until we can transfer the entirety of the business in Under held for sale, depreciation is suspended from the announcement date forward.
The benefit of this change will not be seen until existing inventory-carrying depreciation and cost of sales is sold through, so earliest benefit will be later in Q1 '21 or Q2 ' Capital spending for the NAND business will be shown in assets held for sale and excluded from free cash flow.
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