The Texas Instruments headquarters in Dallas, Texas, on Jan. 21, 2024.
N. Johnson | Bloomberg | Getty Images
Texas Instrumentsreported second-quarter results on Tuesday that beat analysts’ expectations for revenue and earnings. But the stock fell in extended trading due to a third-quarter forecast that missed estimates.
Here’s how the chipmaker did versus LSEG consensus estimates:
Earnings per share: $1.41 vs. $1.35 expected
Revenue: $4.45 billion vs. $4.36 billion expected
Texas Instruments said it expects current-quarter earnings between $1.36 and $1.60 per share, while analysts were looking for $1.50 per share. The company forecast revenue of $4.45 billion to $4.8 billion, for a midpoint of $4.625 billion. Analysts were expecting revenue of $4.59 billion.
Revenue increased 16% in the second quarter from $3.82 billion in the same period a year earlier. Sales in the company’s analog chip business, its largest, rose 18% to $3.5 billion, surpassing the StreetAccount estimate of $3.39 billion for the segment.
Net income rose 15% to $1.3 billion, or $1.41 per share, from $1.13 billion, or $1.22 per share, a year ago.
Texas Instruments is a key supplier of legacy semiconductors for automotive and industrial uses.
As of Tuesday’s close, Texas Instruments shares were up 15% for the year on broader market optimism for chips. In June, the company said it would spend $60 billion to expand chipmaking factories in Texas and Utah, a move that was praised by the Trump administration in its push to bring more technology manufacturing to the U.S.
Enbridge is going big on solar again in Texas, and Meta is snapping up all the solar power it can get.
Last month, Electrek reported that the Canadian oil and gas pipeline giant just launched its first solar farm in Texas. Now it’s given the green light to Clear Fork, a 600 megawatt (MW) utility-scale solar farm already under construction near San Antonio. The project is expected to come online in summer 2027.
Once it’s up and running, every bit of Clear Fork’s electricity will go to Meta Platforms under a long-term contract. Meta will use the solar power to help run its energy-hungry data centers entirely on clean energy.
The solar farm project’s cost is around $900 million. Enbridge says it expects Clear Fork to boost the company’s cash flow and earnings starting in 2027.
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Enbridge EVP Matthew Akman said the project reflects “growing demand for renewable power across North America from blue-chip companies involved in technology and data center operations.”
Meta’s head of global energy, Urvi Parekh, added that the company is “thrilled to partner with Enbridge to bring new renewable energy to Texas and help support our operations with 100% clean energy.”
Meta’s first multi-gigawatt data center, Prometheus, is expected to come online in 2026.
Clear Fork is part of a growing trend: tech giants like Meta, Amazon, and Google are racing to lock down renewable energy contracts as they expand their fleets of AI-ready data centers, which use massive amounts of electricity.
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Jeff Bezos, founder and executive chairman of Amazon, takes the stage during The New York Times’ annual DealBook Summit, at Jazz at Lincoln Center in New York City on Dec. 4, 2024.
The meeting between Trump and Bezos, one of the world’s richest men, lasted for more than an hour, according to two people familiar with the matter who asked not to be named because the conversation was private.
Amazon declined to comment on the meeting. A spokesperson for Bezos didn’t immediately respond to a request for comment.
The nature and exact timing of the visit couldn’t be learned.
A Gulfstream G700 private jet linked to Bezos landed in Dulles, Virginia, outside Washington, on July 14 before taking off the next day, according to Jack Sweeney, a programmer who tracks flight data from jets owned by Elon Musk, Bill Gates and others.
Bezos, who also owns rocket company Blue Origin, has cozied up to Trump during his second term in the White House. Trump frequently hurled insults at Bezos during his first term, largely because of the Amazon founder’s ownership of The Washington Post.
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Bezos joined a swath of tech CEOs on stage at Trump’s inauguration in January after donating $1 million to his inaugural fund.
The Trump administration praised Bezos for his decision to revamp the Post’s editorial pages to focus on “personal liberties and free markets.”
In April, Trump said Bezos, who stepped down as Amazon’s CEO in 2021, was “terrific” and “a good guy” after the billionaire assured Trump that the e-commerce giant had no plans to display tariff-related surcharges on its website.
More recently, Bezos has reportedly sought to capitalize on the dramatic falling-out between Trump and Musk, who spent more than $250 million to help Trump win a second White House term and previously led the government-slashing initiative called the Department of Government Efficiency.
Bezos competes with Musk, who is the CEO of SpaceX, through Blue Origin and Project Kuiper, Amazon’s low-Earth orbit satellite internet venture.
After Trump and Musk’s relationship soured, Bezos spoke with Trump on several occasions, while Blue Origin CEO Dave Limp traveled to the White House, The Wall Street Journal reported, citing people familiar with the matter.
The conversations centered in part on government contracts, according to the Journal.