# Episode 116: Earnings (AAPL, QCOM), Intel's Chiplet Bet, AI Factory Thesis

- Show: [The Circuit](https://hardwarepodcasts.com/podcast/the-circuit)
- Published: 2025-05-06
- Length: 52m
- Episode: 117
- Page: https://hardwarepodcasts.com/podcast/the-circuit/2025-05-06-episode-116-earnings-aapl-qcom-intels-chiplet-bet-ai-factory-thesis
- Listen: https://share.transistor.fm/s/8fc2c272

## Summary

Ben Bajarin and Jay Goldberg analyze recent earnings from Apple and Qualcomm, highlighting Apple's rapid manufacturing shift to India and Qualcomm's successful diversification into automotive and smart IoT. They then examine Intel's foundry strategy, focusing on its competitive chiplet architecture via EMIB and the cost advantages of its PowerVia technology. Finally, the hosts discuss the concept of 'AI factories,' arguing that purpose-built infrastructure should be viewed as a profit center rather than a traditional cost center.

## Chapters

- [0:05](https://hardwarepodcasts.com/podcast/the-circuit/2025-05-06-episode-116-earnings-aapl-qcom-intels-chiplet-bet-ai-factory-thesis#t=5) Introduction and Apple Earnings Analysis
- [4:27](https://hardwarepodcasts.com/podcast/the-circuit/2025-05-06-episode-116-earnings-aapl-qcom-intels-chiplet-bet-ai-factory-thesis#t=267) Apple's Supply Chain Shift to India
- [9:01](https://hardwarepodcasts.com/podcast/the-circuit/2025-05-06-episode-116-earnings-aapl-qcom-intels-chiplet-bet-ai-factory-thesis#t=541) Qualcomm Earnings and Diversification
- [15:52](https://hardwarepodcasts.com/podcast/the-circuit/2025-05-06-episode-116-earnings-aapl-qcom-intels-chiplet-bet-ai-factory-thesis#t=952) Qualcomm's Automotive and IoT Strategy
- [24:49](https://hardwarepodcasts.com/podcast/the-circuit/2025-05-06-episode-116-earnings-aapl-qcom-intels-chiplet-bet-ai-factory-thesis#t=1489) Intel Foundry Roadmap and PowerVia
- [38:23](https://hardwarepodcasts.com/podcast/the-circuit/2025-05-06-episode-116-earnings-aapl-qcom-intels-chiplet-bet-ai-factory-thesis#t=2303) Intel's Chiplet and EMIB Strategy
- [42:32](https://hardwarepodcasts.com/podcast/the-circuit/2025-05-06-episode-116-earnings-aapl-qcom-intels-chiplet-bet-ai-factory-thesis#t=2552) The AI Factory Thesis

## Topics

- [Manufacturing partners & offshoring](https://hardwarepodcasts.com/topic/manufacturing-partners)
- [Scaling production](https://hardwarepodcasts.com/topic/scaling-production)
- [Chips, FPGAs & semiconductors](https://hardwarepodcasts.com/topic/chips-and-fpgas)
- [Pricing, margins & unit economics](https://hardwarepodcasts.com/topic/pricing-and-unit-economics)
- [Growth, exits & acquisitions](https://hardwarepodcasts.com/topic/growth-exits-and-acquisitions)

## Most relevant to

large enterprises

## Mentioned

- Apple (company)
- Qualcomm (company)
- Intel (company)
- TSMC (company)
- Foxconn (company)
- Nvidia (company)
- AMD (company)
- Media Tech (company)
- PowerVia (product)
- EMIB (product)
- 14A (product)
- 18A (product)
- Synopsys (company)
- Cadence (company)
- VPro (product)

## Related episodes from other shows

- [Headline: Intel Throws a Curveball | The Book on Gallium Nitride](https://hardwarepodcasts.com/podcast/ee-times-current/2021-03-26-headline-intel-throws-a-curveball-the-book-on-gallium-nitride) (EE Times Current)
- [Intel on Getting Its Mojo Back](https://hardwarepodcasts.com/podcast/ee-times-current/2021-07-30-intel-on-getting-its-mojo-back) (EE Times Current)
- [Risking RISC-V | Engineers & the Gig Economy | Chiplets](https://hardwarepodcasts.com/podcast/ee-times-current/2019-06-14-risking-risc-v-engineers-the-gig-economy-chiplets) (EE Times Current)
- [Interview: AMD CTO Papermaster | Interview: Imagination CEO Black | Where to Invest in 2020](https://hardwarepodcasts.com/podcast/ee-times-current/2020-01-24-interview-amd-cto-papermaster-interview-imagination-ceo-black-where-to-invest-in) (EE Times Current)
- [Season 5 of Moore's Lobby is Coming Soon](https://hardwarepodcasts.com/podcast/moores-lobby/2022-09-06-season-5-of-moores-lobby-is-coming-soon) (Moore's Lobby)

## Citing this page

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