Chips mixed as Intel unveils new data center GPUs, Gelsinger bemoans existing offerings
PonyWang

Semiconductor stocks were mixed in mid-day trading on Tuesday, as investors digested potential order cuts for Taiwan Semiconductor (NYSE:TSM) and Intel (NASDAQ:INTC) unveiled new graphics cards aimed at the data center, with Chief Executive Pat Gelsinger taking a shot at existing cards in the market place.
Speaking at a company event, Intel's (INTC) Gelsinger said existing GPUs were too expensive, as the Santa Clara, California-based chip giant took the wraps off its ARC A770 GPU. Priced at $329, the ARC A770 GPU is significantly less expensive than comparable offerings from Nvidia (NASDAQ:NVDA) and Advanced Micro Devices (NASDAQ:AMD).
Gelsinger said the ARC A770 GPU would launch on October 12, the same day as Nvidia's recently announced RTX 4090 GPU.
In addition, Intel (INTC) also unveiled a new Unison app, that lets Intel-based PCs call, iPhones and Android devices, as well as send texts and share files. 
At its annual GTC conference earlier this month, Nvidia (NVDA) showed off its new RTX 4090 GPU, priced at $1,599. The company also took the wraps off its new GeForce GPUs, which will retail for $899 and $1,199, respectively, and will be available in November.
Late last month, AMD (AMD) unveiled its new Ryzen 7000 series of processors, including what it described as the "fastest core" in gaming.
Intel (INTC) shares fell 1% in mid-day trading, while Nvidia (NVDA) and AMD (AMD) had fractional gains, though off the best levels of the session.
Taiwan Semiconductor (TSM) shares fell fractionally to $72.70 even as it was reported that the global foundry's "major" fabless customers have started cutting back wafer starts in 2023.
DIGITIMES reported, citing industry sources, that the cuts may result in Taiwan Semiconductor (TSM) revising its revenue outlook at an investor conference in January.
Major clients of Taiwan Semiconductor (TSM) include Apple (AAPL), Advanced Micro Devices (AMD), Broadcom (AVGO), Nvidia (NVDA) and more.
Qualcomm (QCOM) and Broadcom (AVGO) both fell nearly 1% on Tuesday, while other chipmakers, such as Micron Technology (MU), ON Semiconductor (ON) and Microchip (MCHP) saw gains.
Micron (MU) is slated to report fourth-quarter results after the close of trading on Thursday.
Last week, Bank of America lowered estimates on both AMD (AMD) and Intel (INTC), pointing to a "further deterioration" in the consumer PC market and getting rid of excess inventory.