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Five things to know about QB Brandon Allen, the 49ers’ starter against the Packers this weekendNoneNet sales increased 2% versus last year with comparable sales up 1% Operating margin of 9.3% improved 270 basis points versus last year Market share gains across all brands in the quarter Raises outlook for fiscal 2024 net sales, gross margin and operating income growth SAN FRANCISCO , Nov. 21, 2024 /PRNewswire/ -- Gap Inc. (NYSE: GAP), the largest specialty apparel company in the U.S. and a house of iconic brands including Old Navy, Gap, Banana Republic, and Athleta, today reported financial results for its third quarter ended November 2, 2024. "I'm proud that Gap Inc. delivered another successful quarter, growing net sales for the 4 th consecutive quarter and gaining market share across all brands while meaningfully expanding operating margin," said President and Chief Executive Officer, Richard Dickson . "Consistent execution of our strategic priorities, including the rigor and repetition we're applying to our brand reinvigoration playbook, is making us a stronger company and demonstrates our continued progress in unlocking Gap Inc.'s full potential." Dickson continued: "Holiday is off to a strong start and we remain focused on executing with excellence in the fourth quarter. Our performance year-to-date gives us the confidence to raise our full year outlook for sales, gross margin and operating income growth." Third Quarter Fiscal 2024 – Financial Results Balance Sheet and Cash Flow Highlights Additional information regarding free cash flow, which is a non-GAAP financial measure, is provided at the end of this press release along with a reconciliation of this measure from the most directly comparable GAAP financial measure for the applicable period. Third Quarter Fiscal 2024 – Global Brand Results Comparable Sales Third Quarter 2024 2023 Old Navy — % 1 % Gap 3 % (1) % Banana Republic (1) % (8) % Athleta 5 % (19) % Gap Inc. 1 % (2) % Old Navy: Gap: Banana Republic: Athleta: Fiscal 2024 Outlook As a result of its strong third quarter results, the company is raising its full year outlook for net sales, gross margin and operating income growth compared to prior expectations. Please note that the company's projected full year fiscal 2024 operating income growth below is provided in comparison to its full year fiscal 2023 adjusted operating income, which excludes $93 million in restructuring costs and a $47 million gain on sale of a building. Full Year Fiscal 2024 Current FY24 Outlook Prior FY24 Outlook FY23 Results Net sales Up 1.5% to 2.0% on a 52-week basis Up slightly on a 52-week basis $14.9 billion 1 Gross margin Approximately 220 bps expansion Approximately 200 bps expansion 38.8 % Operating expense Approximately $5.1 billion Approximately $5.1 billion $5.17 billion (adjusted) 2 Operating income Mid to High 60% growth range Mid to High 50% growth range $606 million (adjusted) 3 Effective tax rate Approximately 26.5% Approximately 28% 9.7 % Capital expenditures Approximately $500 million Approximately $500 million $420 million 1 Fiscal year 2023 consisted of 53 weeks and the extra week drove approximately $160 million of incremental sales. 2 Fiscal year 2023 adjusted operating expense of $5.17 billion excludes $89 million in restructuring costs and a $47 million gain on sale. 3 Fiscal year 2023 adjusted operating income of $606 million excludes $93 million in restructuring costs and a $47 million gain on sale. Webcast and Conference Call Information Whitney Notaro , Head of Investor Relations at Gap Inc., will host a conference call to review the company's third quarter fiscal 2024 results beginning at approximately 2:00 p.m. Pacific Time today. Ms. Notaro will be joined by President and Chief Executive Officer, Richard Dickson and Chief Financial Officer, Katrina O'Connell . A live webcast of the conference call and accompanying materials will be available online at investors.gapinc.com . A replay of the webcast will be available at the same location. Non-GAAP Disclosure This press release and related conference call include financial measures that have not been calculated in accordance with U.S. generally accepted accounting principles (GAAP) and are therefore referred to as non-GAAP financial measures. The non-GAAP measures described below are intended to provide investors with additional useful information about the company's financial performance, to enhance the overall understanding of its past performance and future prospects, and to allow for greater transparency with respect to important metrics used by management for financial and operating decision-making. The company presents these non-GAAP financial measures to assist investors in seeing its financial performance from management's view and because it believes they provide an additional tool for investors to use in computing the company's core financial performance over multiple periods with other companies in its industry. Additional information regarding the intended use of non-GAAP measures included in this press release and related conference call is provided in the tables to this press release. The non-GAAP measures included in this press release and related conference call are adjusted operating expense/adjusted SG&A, adjusted operating income, adjusted operating margin, adjusted diluted earnings per share, and free cash flow. These non-GAAP measures exclude the impact of certain items that are set forth in the tables to this press release. In addition, the company's outlook includes projected full year fiscal 2024 operating income growth compared to its full year fiscal 2023 adjusted operating income. The non-GAAP measures used by the company should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP and may not be the same as similarly titled measures used by other companies due to possible differences in method and in items or events being adjusted. The company urges investors to review the reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures included in the tables to this press release below, and not to rely on any single financial measure to evaluate its business. The non-GAAP financial measures used by the company have limitations in their usefulness to investors because they have no standardized meaning prescribed by GAAP and are not prepared under any comprehensive set of accounting rules or principles. Forward-Looking Statements This press release and related conference call and accompanying materials contain forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are forward-looking statements. Words such as "expect," "anticipate," "believe," "estimate," "intend," "plan," "project," and similar expressions also identify forward-looking statements. Forward-looking statements include statements regarding the following: becoming a high performing company; unlocking Gap Inc.'s potential; our four strategic priorities, including maintaining and delivering financial and operational rigor, the reinvigoration of our brands, strengthening our operating platform, and energizing our culture; driving relevance and revenue by executing on our brand reinvigoration playbook; expectations for Old Navy for the holiday season; accelerating Old Navy's presence in the Active category; Old Navy's holiday activations and product; reigniting Gap brand's leadership in trend-right products and creative expression through big ideas and culturally relevant messaging; reestablishing Banana Republic to thrive in the premium lifestyle space; evolving Banana Republic's assortment and fit; continuing to fix the fundamentals at Banana Republic; Banana Republic's holiday product; Athleta's trajectory; Athleta's holiday product; enhancing Athleta's in-store and online experiences; driving high-performance across our teams; executing with excellence; Gap Inc.'s positioning going into the holiday season; expectations for our full year performance; expected year-end inventory levels; expected full year fiscal 2024 net sales; the expected impact of the loss of the 53rd week on full year fiscal 2024 net sales; expected fourth quarter fiscal 2024 net sales; the expected impacts of the loss of the 53rd week and the weekly calendar shift on fourth quarter fiscal 2024 net sales; expected full year fiscal 2024 gross margin; the expected impacts of commodity costs and better inventory management on full year fiscal 2024 gross margin; expected full year fiscal 2024 ROD; expected fourth quarter fiscal 2024 gross margin; the expected impact of the loss of the 53rd week on fourth quarter fiscal 2024 gross margin; expected full year fiscal 2024 SG&A/operating expense; continuing cost discipline and unlocking more efficiencies in the business; expected full year fiscal 2024 operating income; expected full year fiscal 2024 effective tax rate; expected full year fiscal 2024 capital expenditures; generating sustainable, profitable growth and delivering long-term shareholder value; and our dividend policy. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause our actual results to differ materially from those in the forward-looking statements. These factors include, without limitation, the following risks, any of which could have an adverse effect on our business, financial condition, results of operations, or reputation: the overall global economic and geopolitical environment, including the ongoing Russia - Ukraine and Israel-Hamas conflicts and recent elections in the United States , and impacts on consumer spending patterns; social and political unrest in our sourcing countries, including Bangladesh , and disruptions to global trade and shipping capacity, including in the Red Sea; the risk that we or our franchisees may be unsuccessful in gauging apparel trends and changing consumer preferences or responding with sufficient lead time; the highly competitive nature of our business in the United States and internationally; the risk that we may be unable to manage our inventory effectively and the resulting impact on our gross margins and sales; the risk that our investments in customer, digital, and omni-channel shopping initiatives may not deliver the results we anticipate; the risk that we fail to maintain, enhance, and protect our brand image and reputation; the risk of loss or theft of assets, including inventory shortage; the risk that we fail to manage key executive succession and retention or continue to attract qualified personnel; reductions in income and cash flow from our credit card arrangement related to our private label and co-branded credit cards; the risk that changes in our business strategy or restructuring our operations may not generate the intended benefits or projected cost savings; the risk that trade matters could increase the cost or reduce the supply of apparel available to us; the risks to our business, including our costs and global supply chain, associated with global sourcing and manufacturing; the risks to our reputation or operations associated with importing merchandise from foreign countries, including failure of our vendors to adhere to our Code of Vendor Conduct; the risk that we or our franchisees may be unsuccessful in identifying, negotiating, and securing new store locations and renewing, modifying, or terminating leases for existing store locations effectively; engaging in or seeking to engage in strategic transactions that are subject to various risks and uncertainties; the risk that our efforts to expand internationally may not be successful; the risk that our franchisees and licensees could impair the value of our brands; the risk of data or other security breaches or vulnerabilities that may result in increased costs, violations of law, significant legal and financial exposure, and a loss of confidence in our security measures; the risk that failures of, or updates or changes to, our IT systems may disrupt our operations; the risk that our comparable sales and margins may experience fluctuations, that we may fail to meet financial market expectations, or that the seasonality of our business may experience fluctuations; the risk of foreign currency exchange rate fluctuations; the risk that our level of indebtedness may impact our ability to operate and expand our business; the risk that we and our subsidiaries may be unable to meet our obligations under our indebtedness agreements; the risk that changes in our credit profile or deterioration in market conditions may limit our access to the capital markets; natural disasters, public health crises (such as pandemics and epidemics), political crises (such as the ongoing Russia - Ukraine and Israel-Hamas conflicts), negative global climate patterns, or other catastrophic events; evolving regulations and expectations with respect to ESG matters, including climate reporting; the adverse effects of climate change on our operations and those of our franchisees, vendors, and other business partners; our failure to comply with applicable laws and regulations and changes in the regulatory or administrative landscape; the risk that we will not be successful in defending various proceedings, lawsuits, disputes, and claims; the risk that our estimates and assumptions used when preparing our financial information are inaccurate or may change; the risk that changes in the geographic mix and level of income or losses, the expected or actual outcome of audits, changes in deferred tax valuation allowances, and new legislation could impact our effective tax rate, or that we may be required to pay amounts in excess of established tax liabilities; the risk that changes in our business structure, our performance or our industry could result in reductions in our pre-tax income or utilization of existing tax carryforwards in future periods, and require additional deferred tax valuation allowances; the risk that the adoption of new accounting pronouncements will impact future results; and the risk that additional information may arise during our close process or as a result of subsequent events that would require us to make adjustments to our financial information. Additional information regarding factors that could cause results to differ can be found in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 19, 2024 , as well as our subsequent filings with the Securities and Exchange Commission. These forward-looking statements are based on information as of November 21, 2024 . We assume no obligation to publicly update or revise our forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized. About Gap Inc. Gap Inc., a house of iconic brands, is the largest specialty apparel company in America. Its Old Navy , Gap , Banana Republic , and Athleta brands offer clothing, accessories, and lifestyle products for men, women and children. Since 1969, Gap Inc. has created products and experiences that shape culture, while doing right by employees, communities and the planet. Gap Inc. products are available worldwide through company-operated stores, franchise stores, and e-commerce sites. Fiscal year 2023 net sales were $14.9 billion . For more information, please visit www.gapinc.com . Investor Relations Contact: Nina Bari Investor_relations@gap.com Media Relations Contact: Megan Foote Press@gap.com The Gap, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS UNAUDITED ($ in millions) November 2, 2024 October 28, 2023 ASSETS Current assets: Cash and cash equivalents $ 1,969 $ 1,351 Short-term investments 250 — Merchandise inventory 2,331 2,377 Other current assets 580 646 Total current assets 5,130 4,374 Property and equipment, net of accumulated depreciation 2,546 2,552 Operating lease assets 3,217 3,200 Other long-term assets 960 926 Total assets $ 11,853 $ 11,052 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,523 $ 1,433 Accrued expenses and other current liabilities 1,135 1,078 Current portion of operating lease liabilities 617 604 Income taxes payable 50 24 Total current liabilities 3,325 3,139 Long-term liabilities: Long-term debt 1,489 1,488 Long-term operating lease liabilities 3,360 3,456 Other long-term liabilities 544 509 Total long-term liabilities 5,393 5,453 Total stockholders' equity 3,135 2,460 Total liabilities and stockholders' equity $ 11,853 $ 11,052 The Gap, Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS UNAUDITED 13 Weeks Ended 39 Weeks Ended ($ and shares in millions except per share amounts) November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 Net sales $ 3,829 $ 3,767 $ 10,937 $ 10,591 Cost of goods sold and occupancy expenses 2,194 2,211 6,322 6,488 Gross profit 1,635 1,556 4,615 4,103 Operating expenses 1,280 1,306 3,762 3,757 Operating income 355 250 853 346 Interest, net (6) — (12) 8 Income before income taxes 361 250 865 338 Income tax expense 87 32 227 21 Net income $ 274 $ 218 $ 638 $ 317 Weighted-average number of shares - basic 377 371 376 369 Weighted-average number of shares - diluted 383 375 383 373 Earnings per share - basic $ 0.73 $ 0.59 $ 1.70 $ 0.86 Earnings per share - diluted $ 0.72 $ 0.58 $ 1.67 $ 0.85 The Gap, Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED 39 Weeks Ended ($ in millions) November 2, 2024 (a) October 28, 2023 (a) Cash flows from operating activities: Net income $ 638 $ 317 Depreciation and amortization 371 394 Gain on sale of building — (47) Change in merchandise inventory (344) (5) Change in accounts payable 156 133 Other, net

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J Thitikul (Tha); A Yin (US); L Ko (NZ); R Yin (Chi); N-R An (Kor), N Korda (US) C Boutier (Fra); C Hull (Eng); L Maguire (Ire) Thailand's Jeeno Thitikul carded an eagle and birdie on the final two holes to take a dramatic victory in the LPGA Tour's season-finale in Florida. The 21-year-old moved level with American Angel Yin on 21 under after her three on the par-five 17th. Yin narrowly missed a lengthy putt to go to 22 under on the 18th before Thitikul, helped by a brilliant approach shot, holed her birdie putt to win the CME Group Tour Championship and claim the $4m (£3.2m) in prize money, which is the largest in the history of women's golf. The two players were in the joint lead on 15 under overnight and Thitikul finished with a seven-under 65, while Yin signed for a 66. "I don't know what happened to me on 17 and 18," said Thitikul. "I really needed a birdie on 17 to give me a good chance but having an eagle, it was more than I can ask for. "Hitting a really good second shot on 18 and to hole the putt, it's like all the hard work that I've done has just paid off." Yin received $1m (£795,300) for finishing as the runner-up. "My game is good going into next year," she added. "I'm happy because this is a golf course I'm not very fond of. To play well here means a lot to me." World number one Nelly Korda ended 15 under after a 66, while England's Charley Hull - who was four shots off the lead going into the last day - finished on 11 under after a level-par finish.

In his first sit-down broadcast interview since the Nov. 5 election, President-elect Donald Trump said he would begin pardoning rioters who participated in the Jan. 6 attack on the U.S. Capitol on "Day One." “I’m going to look at everything. We’re going to look at individual cases,” Trump said in his “ Meet the Press ” interview, which aired on Sunday. In what has been billed as America’s largest-ever criminal investigation, at least 1,572 defendants have been charged in the Jan. 6 attack, according to Reuters, with crimes ranging from unlawfully entering restricted grounds to seditious conspiracy and violent assault. Of that total, more than 1,251 have been convicted or pleaded guilty and 645 have been sentenced to prison, with punishments ranging from a few days to 22 years, according to the latest data from the Justice Department . Did Trump promise to pardon everyone charged with a crime on Jan. 6? Trump told moderator Kristen Welker that he planned to issue the pardons “very quickly,” starting on his first day in office which begins Jan. 20. There could be “some exceptions” to his pardons, Trump said, if an individual had acted “radical” or “crazy” during the assault. He then referred to debunked claims that some members of Antifa and law enforcement officers had infiltrated the crowd. Welker asked Trump whether the 900 people who had already pled guilty, including those who assaulted police officers, would be considered for pardons. Trump would not rule them out, saying “they had no choice” but to attack the officers. Trump argued that “a very nasty system” caused many of the defendants to plead guilty, saying that the prisoners were given unfair plea deals and that their “whole lives have been destroyed.” Trump’s continued support echoes his rhetoric on the campaign trail. He repeatedly referred to Jan. 6 defendants as “political prisoners” and “hostages” during his re-election campaign. The former president even featured a song by the “J6 Prison Choir,” a group of men imprisoned for their participation in the attack on the Capitol, at his first 2024 campaign rally. Where do the Jan. 6 convictions stand now? The Justice Department notes that of the 900 people who have pled guilty, 321 defendants have pleaded guilty to felonies. Among those felonies, 170 pleaded guilty to assaulting law enforcement; 128 to obstructing law enforcement during a riot; 69 to assaulting law enforcement with a dangerous or deadly weapon; and four to seditious conspiracy. According to a report by NBC News , existing cases against Jan. 6 defendants are expected to continue until President Joe Biden leaves office on Jan. 20. Shortly after the election, federal prosecutors in the Justice Department’s Capitol Siege Section received guidance to proceed with pending cases, trials, sentencing hearings, and plea agreement hearings. The guidance instructed prosecutors to “focus on the most egregious conduct and cases until the end of the administration,” including those who have yet to be arrested for assault on a law enforcement officer. Jake Lang , a New York man who was charged with assaulting police officers and has been held in jail before trial, told Reuters he was hopeful he would be swept up in a blanket pardon. “I think on January 20, 2025 we are going to see a similar situation to Hunter Biden,” Lang said in a phone interview. “Everybody’s pardoned, full exoneration. Get them all out of prison and get this thing over with, so that we can start the national healing process." Reuters contributed to the reporting of this story. Melissa Cruz is an elections reporting fellow who focuses on voter access issues for the USA TODAY Network. You can reach her at mcruz@gannett.com or on X, formerly Twitter, at @MelissaWrites22.

Manmohan Singh No More: A Look Back At The Reluctant Prime Minister Who Served For 10 YearsHowever, the ECB’s decision is good news for the estimated 127,000 Irish people with tracker mortgages. Following a period of steep rises between 2022 and earlier this year, the interest rate on trackers reached over 4 per cent last June. Following the latest cut, the rate will average 3.1 per cent. Over 700,000 mortgage holders are either on fixed-rate or variable-rate mortgages and will be largely unaffected by the latest move. However, the rate cut is not such good news for savers. For a decade leading up to 2022 Irish depositors got a minimal return on their savings as the main ECB rate was at 0 per cent. From 2022, the returns on deposits started to rise as monetary policy tightened. At the end of October, there were € 159.1bn in deposits held by Irish households. But the outlook is once again bleak. It is expected that the ECB could cut rates to 1.75 per cent over the next year. Overall though, the backdrop to yesterday’s rate cut is deeply concerning. French borrowing costs have soared due to political instability following the collapse of Michel Barnier’s short-lived premiership last week. The German economy is teetering on the brink of recession amid ongoing political instability. Far-right parties are making gains across many member states and there is a looming threat of a trade war once Donald Trump takes over the White House. In September, Mario Draghi, the former president of the ECB, released a report on boosting EU competitiveness. He called for a series of far-reaching reforms and annual investment of €700bn to put the EU on a competitive footing with China and the US. So far little action has been taken, despite repeated warnings from the ECB. The bank’s latest cut and dovish outlook should act as a wake-up call for all member states, including Ireland.

Dr. Manmohan Singh Ji and I interacted regularly when he was PM and I was the CM of Gujarat. We would have extensive deliberations on various subjects relating to governance. His wisdom and humility were always visible. In this hour of grief, my thoughts are with the family of... Few people in politics inspire the kind of respect that Sardar Manmohan Singh ji did. His honesty will always be an inspiration for us and he will forever stand tall among those who truly love this country as someone who remained steadfast in his commitment to serve the nation...

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SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates CCRN, ENLC, MNTX on Behalf of ShareholdersBethel High graduate Mike Davis helps players adjust when joining or leaving the Lakers' organization. "When you get to that facility, it's a basketball player and fan’s dream."

Urgent search for missing 19-year-old from LewishamOn the heels of a resounding election victory one month ago, Nova Scotia’s premier is adopting a more measured tone when it comes to assessing his province’s relationship with the federal government. Tim Houston’s Progressive Conservatives were returned to power Nov. 26, capturing 43 of the legislature’s 55 seats after a campaign during which he attacked Prime Minister Justin Trudeau’s Liberal government on a number of fronts. In fact, he justified his decision to call a snap election and ignore the province’s fixed-date election law — which had set the vote for July 2025 — by claiming he needed a strong mandate to stand up to Ottawa. But in a recent end-of-year interview with The Canadian Press, Houston was more conciliatory, saying a Dec. 9 meeting at his Halifax office with Trudeau was conducted with “a spirit of collaboration.” “We started to see right away that the tone was different,” he said, adding that whatever comes of Trudeau’s leadership of the Liberal party, Nova Scotia will retain its important relationship with the federal government. Trudeau, meanwhile, has been facing increasing pressure from inside his caucus to step down. High on Houston’s list of grievances has been Ottawa’s imposition of carbon pricing in the province and its refusal to pay the entire bill for the costly work needed to protect the Chignecto Isthmus, the low-lying land link between New Brunswick and Nova Scotia that is increasingly prone to severe flooding. During the provincial election campaign, the premier accused the federal government of shirking its responsibility for the isthmus, on occasion accusing Ottawa of “trying to rip us off.” However, his language has become noticeably less strident since the election win. “I would say they were more open-minded to looking at different ways we could finance it (the isthmus project), so I will let that unfold,” said Houston. “It’s not resolved yet, I don’t want to give that impression, but certainly we are trying to work towards a resolution that both parties can live with.” The federal government has said it is willing to pay 50 per cent of the estimated $650-million project to strengthen the dike system and rail line along the vital land corridor against rising sea levels. Nova Scotia and New Brunswick are to split the other half of the cost, and the provinces have subsequently asked the Nova Scotia Court of Appeal to rule on whether the responsibility for the work belongs entirely to the federal government. Houston said the legal challenge — Ottawa should file its response in January — is going ahead, with hearings scheduled to begin in March. “They haven’t filed yet and we haven’t withdrawn,” he said. “That stuff is still on the docket and I’ll keep that on the docket until there is a resolution.” Nova Scotia can’t afford to be distracted by squabbles with Ottawa as the province tries to fend off threats from the president-elect of the United States, who says he will impose a 25 per cent tariff on Canadian goods when he gets into office in January unless border security is improved. Houston said he is on board with Trudeau’s Team Canada approach to Donald Trump because of the vital trade relationship Nova Scotia has with its southern neighbour. According to Nova Scotia government statistics, nearly 70 per cent of the province’s exports between January and September 2024 were to the U.S. Exports were up 6.6 per cent over the same period in 2023, rising to $3.5 billion, the bulk of which range from seafood and agricultural products to lumber and tires. “We want to be part of a positive resolution ... The premiers are united on this, it’s their Number 1 priority,” said Houston, who added that meetings would probably be set up with governors from key trading partner states in the new year. As for dealing with Trump, Houston said it’s best to take him at his word regardless of whether he gets his point across on social media or through traditional channels. “He’s the president-elect of the United States so he has to be taken seriously, no matter which form he presents his ideas and thoughts,” Houston said.Dec 12 (Reuters) - Apple (AAPL.O) , opens new tab is planning to switch to a homegrown chip for Bluetooth and Wi-Fi connections for its devices starting next year, a move that will phase out some parts currently supplied by Broadcom (AVGO.O) , opens new tab , Bloomberg News reported on Thursday. The chip, code-named Proxima, has been under development for several years and is now slated to go into the first iPhones and smart home devices produced in 2025, the report said, citing people familiar with the matter. The iPhone maker's in-house chips will be produced by Taiwan Semiconductor Manufacturing Co (2330.TW) , opens new tab , the report added. At its annual developer conference in June , Apple said that it plans to use its own server chips to help power artificial intelligence features on its devices. The move is separate from Apple's reported plans to launch its long-awaited series of cellular modem chips next year, which will replace components from longtime partner Qualcomm (QCOM.O) , opens new tab , the report added. However, the two parts will eventually work together, Bloomberg said on Thursday. Apple did not immediately respond to Reuters' request for comment. The company is working with Broadcom to develop its first server chip, which is internally code-named Baltra, specifically designed for AI processing, the Information reported on Wednesday . The iPhone maker, along with some other big technology companies, has found it hard to cut reliance on Nvidia's (NVDA.O) , opens new tab pricey and short-in-supply processors despite in-house efforts to develop their own chips to power compute-heavy AI services. Last year, Broadcom, a major supplier of wireless components to Apple, had signed a multi-billion-dollar deal with the company to develop 5G radio frequency components. Sign up here. Reporting by Priyanka.G in Bengaluru; Editing by Alan Barona Our Standards: The Thomson Reuters Trust Principles. , opens new tabPublished 3:33 pm Thursday, December 26, 2024 By Data Skrive The injury report for the Houston Rockets (20-9) heading into their matchup with the Minnesota Timberwolves (15-14) currently features two players. The Timberwolves have three injured players listed on the report. The matchup is scheduled for 8:00 PM ET on Friday, December 27. Watch the NBA, other live sports and more on Fubo. What is Fubo? Fubo is a streaming service that gives you access to your favorite live sports and shows on demand. Use our link to sign up. Their last time out, the Rockets won on Monday 114-101 over the Hornets. Jabari Smith Jr.’s team-leading 21 points led the Rockets in the win. The Timberwolves won their last game 105-99 against the Mavericks on Wednesday. Anthony Edwards scored a team-leading 26 points for the Timberwolves in the victory. Sign up for NBA League Pass to get live and on-demand access to NBA games. Get tickets for any NBA game this season at StubHub. Catch NBA action all season long on Fubo. Not all offers available in all states, please visit BetMGM for the latest promotions for your area. Must be 21+ to gamble, please wager responsibly. If you or someone you know has a gambling problem, contact 1-800-GAMBLER .

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