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Recode Daily: Intel wins Trump’s praise; Twitter disappoints Wall Street again

CEO Brian Krzanich credited the president, but the timing has more to do with competition.

Chris Kleponis-Pool/Getty Images

In an endorsement of President Trump’s business policies, Intel CEO Brian Krzanich used a White House visit to announce a $7 billion investment in an unfinished chip plant in Arizona. The plant was started in 2011, then mothballed in 2014. Now, for competitive reasons, Intel needs the next-gen chips. — [Ian King / Bloomberg]

Twitter missed its Q4, by underperforming on revenue, and told Wall Street it would have trouble with ad sales for a while. TWTR shares are down 9 percent. The upcoming Snap IPO is putting even more stress on Jack Dorsey and co. — [Kurt Wagner / Recode]

Speaking of the Snap IPO, a new filing shows the company has a deal to spend up to $1 billion on Amazon cloud services. It already disclosed a $2 billion Google cloud deal. — [Kurt Wagner / Recode]

Trumps order limiting new federal regulations is bad news for the future of drone delivery. The lack of regulations is stifling the industry’s growth. — [April Glaser / Recode]

Pinterest rolled out some new discovery features, including the ability to click on items in photos to buy them and a way to search Pinterest for a product based on an uploaded image. — [Kurt Wagner / Recode]

Flipboards redesign lets users pick highly specific topics to create customized “smart magazines” that automatically update with the latest news. — [Walt Mossberg / Recode]

On the latest episode of Recode Media with Peter Kafka, Atlantic editor and “Hit Makers” author Derek Thompson says effective distribution is more important than high-quality content and “viral” hits actually depend on existing networks. — [Eric Johnson / Recode]

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This article originally appeared on Recode.net.