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Here's your morning TNB Tech Minute for Friday, July 25th.

I'm Adriana Aspuru for the Wall Street Journal.

American chip giant Intel will cut 15% of its workforce and cancel plans to spend tens of billions of dollars on new chip facilities in Europe.

The company said it would refocus its strategy on the highly competitive market for AI chips,

regaining market share in personal computer processors,

and developing its advanced 14A technology to sell to large customers.

Intel has fallen far behind its competitors like Nvidia, Advanced Microdevices,

and Taiwan Semiconductor Manufacturing Company,

after it failed to anticipate the demand

for the chips fueling the AI boom. And earnings in LG electronics fell in the second quarter,

due to rising operating costs and increased market competition. The company's net profit fell

3.1% from a year earlier. Results from the South Korean consumer electronics giant

come amid growing pressure on Korean officials to strike a trade deal with Washington, to avoid a

hard hit from President Trump's trade war and a 25% blanket tariff. LG plans to increase production

in the U.S. and Mexico to offset the impact of tariffs imposed by the Trump

administration. Finally, China-linked hackers broke into hundreds of organizations through

Microsoft's patches for a pair of SharePoint bugs, according to security researchers. The attack

involves several versions of Microsoft's SharePoint software that serves as a document storage platform

for customers who don't want to use the cloud. Microsoft released patches for a pair of

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