Intel inks deal with Defense Department to bolster chip manufacturing
Intel has inked a deal with the Department of Defense to bolster chip manufacturing in the U.S. The chipmaker will provide commercial foundry services to the Pentagon. Intel joins IBM, Synopsys, and Cadence Design Systems to support the government's designing and manufacturing needs. This comes as the U.S. aims to speed up domestic chip production amid a global semiconductor shortage.
Vox Media announced Monday that it is acquiring cocktail website Punch, amid rumblings the media company is considering going public either via SPAC, traditional IPO, or by raising additional funding. It also comes weeks after media company Buzzfeed secured a deal to go public via SPAC later this year. With the acquisition of Punch, Vox aims to venture deeper into its coverage of food and drinks. The company already owns an array of sites such as The Verge, current-events site Vox.com and sports-focused SBNation.
Shares of Microsoft hit a record high on Monday after announcing a slew of price hikes. The tech giant is upping the price of certain Office 365 software subscriptions starting next year - its first price increase in a decade. It comes following a banner year for Microsoft thanks to strength in its Cloud business. Shares of Microsoft Corporation closed at $304.65 for the day on Monday, giving the company a market cap of nearly $2.3 trillion. Microsoft shares are up about 37% for the year, outperforming most of its competitors in the field.