Intel spin-off Cornelis Networks is expanding beyond its traditional business to challenge Nvidia in scale-up networking with the potential backing of Qualcomm and $205 million in new funding. And yes, it will support UALink. Interview with CEO here:

🔔 The Daily Semi-Cap — September 14, 2026 📊 SMH: $541.50 (-4.75%) 📈 Earnings: • No new semiconductor earnings released today. 🔥 Major Developments: • Semiconductors led today’s selloff after Anthropic, OpenAI, and xAI leaders backed slowing frontier-model development: the Philadelphia Semiconductor Index fell nearly 6%, while NVIDIA lost 3.4% and Micron, Applied Materials, and Intel dropped between 5.3% and 7.1%. • Google Cloud and Inferact partnered to make TPU a first-class platform in vLLM, aligning their engineering roadmaps around production serving, optimized kernels, native PyTorch support through TorchTPU, and faster support for new frontier models. All resulting work will be open source. • Cornelis launched Active Compute Fabric, an open, programmable architecture spanning scale-up and scale-out AI networking, and raised $205M to fund expansion and next-generation products. Qualcomm is collaborating on the fabric as Cornelis pushes into rack-scale systems. • Fujitsu will begin global sales of its 2nm, 3D-stacked MONAKA CPU in November alongside a made-in-Japan MONAKA Server for sovereign AI, cloud, HPC, and defense workloads. The standalone processor will target cloud operators and server vendors, while the server launches in Japan and Europe.