Victoria Craig

Well, the two biggest prediction market operators now make most of their income from sports wagers, and contracts on the World Cup winner are already the biggest prediction market bets on record, nearly $1.5 billion on PolyMarket already.

So the platforms, as you can tell, are in a real battle for the bucks.

They're all rolling out discounts, deals, rewards, new features, all to attract all of us World Cup watchers sitting around waiting for ticket prices to fall.

Good morning from the Financial Times.

Today is Monday, June 1st, and this is your FT News Briefing.

Intel is going back to basics with a new AI chip, and the inflation shock from the Iran war might not be as severe as the one we saw in 2022.

Plus, the EU is watching warily as China flexes its manufacturing might in Morocco.

I'm Victoria Craig, and here's the news you need to start your day.

Intel is hoping to secure its place in the AI infrastructure race.

By the end of this year, it plans to start shipping a new chip that will power artificial intelligence platforms, one that will be cheaper to produce than ones made by its rivals, NVIDIA and AMD.

Michael Acton has the details on this one.

He covers the semiconductor industry for the FT and joins me now.

Hi, Michael.

All right.

So Intel told you that it's, quote, starting with the basics in a bid to challenge its rivals here.

Just walk us through what the plans are for the company.

Lots still to be decided then.

Where does this position Intel in the global AI race?

Now, all of this is part of a strategy from the new Intel boss, Libhutan, which investors love.

The stock is up more than 200 percent this year.