# EP 132: Offical Gov. Stake in Intel, NVIDIA's New Scale Across Fabric, NVIDIA Earnings Preview

- Show: [The Circuit](https://hardwarepodcasts.com/podcast/the-circuit)
- Published: 2025-08-24
- Length: 47m
- Episode: 132
- Page: https://hardwarepodcasts.com/podcast/the-circuit/2025-08-24-ep-132-offical-gov-stake-in-intel-nvidias-new-scale-across-fabric-nvidia-earning
- Listen: https://share.transistor.fm/s/fbdd5941

## Summary

Ben Bajarin and Jay Goldberg discuss the U.S. government's 10% equity stake in Intel, analyzing the $89 billion deal, the dilution of existing shareholders, and the strategic implications for Intel Foundry's future, including potential splits and the need for a specialized board. They then examine Nvidia's announcement of Spectrum XGS Ethernet, which enables distributed GPU clusters across locations, deepening Nvidia's moat against competitors like Broadcom and Huawei. Finally, they review Analog Devices' mixed earnings signals, noting strength in industrial manufacturing but uncertainty in automotive, while highlighting robotics as an emerging growth area.

## Chapters

- [0:00](https://hardwarepodcasts.com/podcast/the-circuit/2025-08-24-ep-132-offical-gov-stake-in-intel-nvidias-new-scale-across-fabric-nvidia-earning#t=0) Introduction: Intel Government Stake and Deal Details
- [3:06](https://hardwarepodcasts.com/podcast/the-circuit/2025-08-24-ep-132-offical-gov-stake-in-intel-nvidias-new-scale-across-fabric-nvidia-earning#t=186) Intel Deal Mechanics, Dilution, and Signaling
- [7:58](https://hardwarepodcasts.com/podcast/the-circuit/2025-08-24-ep-132-offical-gov-stake-in-intel-nvidias-new-scale-across-fabric-nvidia-earning#t=478) Intel Foundry Strategy, Customers, and Potential Split
- [17:04](https://hardwarepodcasts.com/podcast/the-circuit/2025-08-24-ep-132-offical-gov-stake-in-intel-nvidias-new-scale-across-fabric-nvidia-earning#t=1024) Nvidia Spectrum XGS Ethernet and Distributed Clusters
- [24:16](https://hardwarepodcasts.com/podcast/the-circuit/2025-08-24-ep-132-offical-gov-stake-in-intel-nvidias-new-scale-across-fabric-nvidia-earning#t=1456) Nvidia vs. Broadcom, Huawei, and Hyperscalers
- [32:52](https://hardwarepodcasts.com/podcast/the-circuit/2025-08-24-ep-132-offical-gov-stake-in-intel-nvidias-new-scale-across-fabric-nvidia-earning#t=1972) Nvidia Pricing, Margins, and Competition
- [35:49](https://hardwarepodcasts.com/podcast/the-circuit/2025-08-24-ep-132-offical-gov-stake-in-intel-nvidias-new-scale-across-fabric-nvidia-earning#t=2149) Analog Devices Earnings, Automotive, and Robotics
- [41:14](https://hardwarepodcasts.com/podcast/the-circuit/2025-08-24-ep-132-offical-gov-stake-in-intel-nvidias-new-scale-across-fabric-nvidia-earning#t=2474) Nvidia Earnings Preview and China Policy

## Topics

- [Policy, trade & tariffs](https://hardwarepodcasts.com/topic/policy-trade-and-tariffs)
- [Chips, FPGAs & semiconductors](https://hardwarepodcasts.com/topic/chips-and-fpgas)
- [Sourcing & supply chain](https://hardwarepodcasts.com/topic/sourcing-and-supply-chain)
- [Pricing, margins & unit economics](https://hardwarepodcasts.com/topic/pricing-and-unit-economics)

## Most relevant to

large enterprises

## Mentioned

- Intel (company)
- Nvidia (company)
- Spectrum XGS (product)
- Broadcom (company)
- Huawei (company)
- Analog Devices (company)
- AMD (company)
- Cisco (company)
- TSMC (company)
- Blackwell (product)
- H100 (product)

## Related episodes from other shows

- [EE Times Weekly Briefing: Friday, February 1, 2019](https://hardwarepodcasts.com/podcast/ee-times-current/2019-02-02-ee-times-weekly-briefing-friday-february-1-2019) (EE Times Current)
- [Seismology 1: Nvidia & Arm | Seismology 2: US IC Manufacturing on the Rebound](https://hardwarepodcasts.com/podcast/ee-times-current/2020-08-07-seismology-1-nvidia-arm-seismology-2-us-ic-manufacturing-on-the-rebound) (EE Times Current)
- [Nvidia buys Mellanox | Facebook snatches up Sonics | Geneva Auto Show](https://hardwarepodcasts.com/podcast/ee-times-current/2019-03-16-nvidia-buys-mellanox-facebook-snatches-up-sonics-geneva-auto-show) (EE Times Current)
- [Intel CPU |5G Fixed Wireless | AI Silicon Race | SMIC Rift](https://hardwarepodcasts.com/podcast/ee-times-current/2019-03-29-intel-cpu-5g-fixed-wireless-ai-silicon-race-smic-rift) (EE Times Current)
- [China’s $28B Big Fund | The Cockiest Startup | Sony’s Ambitions](https://hardwarepodcasts.com/podcast/ee-times-current/2019-11-22-chinas-28b-big-fund-the-cockiest-startup-sonys-ambitions) (EE Times Current)

## Citing this page

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