NEW YORK (
said this weekend it is
building a $5 billion chip factory in Arizona
and is looking to hire 4,000 workers. The announcement came as President Obama toured the chipmaker's operations in Oregon.
Intel dropped 0.8% to $21.95 in pre-market trading Tuesday.
is releasing a software development kit this spring that will let third-party developers create programs for its Kinect device. Microsoft, which has sold 8 million Kinect devices since its November release, fell 0.9% in pre-market trading Tuesday to $26.88.
said Monday it was buying video chip specialist
for $679 million. Zoran's technology is used in consumers products like printers and digital cameras, and
Flip Digital Camera.
Chinese Internet giant
said its CEO David Wei and Chief Operating Officer Elvis Lee were leaving the company after an investigation found that many top sellers on the site had created fraudulent storefronts. While Wei and Lee were not accused of wrongdoing, they resigned to take responsibility for the "systemic breakdown."
Online music service
has raised new funding at a $1 billion valuation, according to
. Investors include venture capital firm Kleiner Perkins Caufield & Byers and Russian firm Digital Sky Technologies.
--Written by Olivia Oran in New York.
>To follow the writer on Twitter, go to
>To submit a news tip, send an email to: