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You want a straightforward path to your goals. But at Merrill, we know things may get in the way. Or new opportunities can put you at a crossroads. With the bull at your back, I found a better route. You get a personalized plan. Turn left. And a clear path forward.
Go to ml.com slash bullish to learn more. Merrill, a Bank of America company. What would you like the power to do? Investing involves risk. Merrill Lynch Pierce Fenner & Smith Incorporated. Registered broker-dealer. Registered investment advisor. Member SIPC. A wholly owned subsidiary of Bank of America Corp. Here's your TNB Tech Minute for Monday, December 2nd. I'm Danny Lewis for The Wall Street Journal.
Intel CEO Pat Gelsinger retired abruptly this weekend, ending a four-year run that saw the chipmaker fall behind its rivals in powering the artificial intelligence boom. During Gelsinger's tenure, Intel's sales and stock fell sharply, while the company embarked on a costly turnaround strategy to begin manufacturing chips for other firms. Intel's board has formed a search committee to find a replacement. In the meantime, two interim co-CEOs will run the company.
The U.S. has introduced new restrictions on transferring cutting-edge chips to China. It's the Biden administration's fourth attempt in three years to curb China's access to the technology. The latest rules limit the sale of memory chips that power AI applications and narrowed the list of chip-making tools available to China. But industry analysts say the months-long pause between drafting and releasing the rules allowed Chinese companies to stock up ahead of time.
And server maker SuperMicroComputer says a final accounting review showed no evidence of fraud or mismanagement by the company's leaders or board. That's after former auditor Ernst & Young resigned in October, saying it could no longer rely on management's representations and questioned the board's independence. The final review by a special committee, and backed by outside counsel, said Ernst & Young's conclusions weren't supported by the facts it examined.
Supermicro said it would appoint a new chief financial officer and that it will be able to complete the requirements to remain listed on the NASDAQ. Shares rose more than 28%. For a deeper dive into what's happening in tech, check out Tuesday's Tech News Briefing podcast.
What does the AI-powered future hold for the enterprise? And how can marketers catch the wave of the sea change to come? Find out on the debut episode of AI That Means Business, a new podcast from Google Cloud and custom content from WSJ.