What an interesting web McAfee continues to weave, and this one isn't much different. Skipping over his, let's just say "interesting" background, McAfee was one of the first pioneers into the digital security world. He sold his company, McAfee, to Intel for $7.7 billion back in 2010.
Intel has slowly been trying to phase out the McAfee name, instead turning the business into Intel Security. Given McAfee's post-2010 history, that may have been for the best.
However, the legal issues began when McAfee wanted to rebrand a new company with his name. Intel says that he gave up that trademark when he sold his previous company to Intel and that now prevents him from using the name, even though it is his last name, on a new company.
McAfee takes the position that it's his name and can do what he wants. We'll see how it ends up, although with Intel's desire to shed the name and McAfee's want of the name, perhaps the two can peacefully work something out.
Shares of Intel closed at $36.57 Tuesday, up 1.4%.
Sticking with Intel, the company also made an acquisition, scooping up Movidius for undisclosed amount. Intel bought Movidius because its technology could be spread throughout a number of different applications, including drones, robots, and virtual reality. It can also help the company in its deep-learning ambitions.
Remember, it wasn't long ago that the tech giant put down more than $400 million to acquire Nirvana for its deep-learning technology.
"With the introduction of RealSense™ depth-sensing cameras, we brought groundbreaking technology that allowed devices to "see" the world in three dimensions. To amplify this paradigm shift, we completed several acquisitions in machine learning, deep learning and cognitive computing to build a suite of capabilities that open an entirely new world of possibilities: from recognizing objects, to understanding scenes; from authentication to tracking and navigating."
What does this mean for the stock? Today shares having steadily risen more than 1%. But one day does not make a trend -- or define a future. However, it's hard to argue about a company positioning itself today to get ready for tomorrow's future technology.
Deep learning, artificial intelligence, virtual reality -- all of these industries are nothing but a blip today. But they are poised to be big businesses in the future and especially over the next decade.
Tesla CEO Elon Musk is also the chairman of SolarCity, while also being the largest individual shareholder in each company. His cousins, Lyndon and Peter Rive are the CEO and CTO of SolarCity, while all three have purchased bonds in the company. Musk's other company, SpaceX, has also bought bonds in SolarCity.
For a more extensive breakdown, read our recent piece here.
In any regard, a recent email obtained by Bloomberg sheds a bit more light on Tesla, as Musk asks employees to cut back on costs and boost productivity. The chief exec is looking to show profitability at the company -- however small -- in order to prove to Wall Street that the automaker can not only survive, but thrive.
The problem is that Tesla is going to need cash, and a lot of it, especially considering its Gigafactory and the upcoming launch of its Model 3 vehicle. As if this wasn't capital-intensive enough, the company is trying to acquire SolarCity, which has its own cash-burn concerns itself.
The email serves as a reminder to investors that this is far from a profitable entity and that Tesla will more than likely at some point, look to raise capital to continue its ambitious plans.
Shares of Tesla closed at $202.83 Tuesday, up 2.6%.