US Stock Market Move | Intel Corporation (INTC.US) rose more than 6%. The CEO said the company will focus on AI and contract manufacturing business.
As of the deadline for submitting the article, the stock has risen more than 6%, to $41.9.
On Tuesday, the stock price of Intel Corporation (INTC.US) rose, reaching more than 6% to $41.9 per share as of press time. On the news front, the CEO of the company, Chen Liwu, stated that he is working to refocus the struggling chip giant on the engineering field to address the challenges it has faced due to complacency and poor management. Chen, who joined Intel Corporation in March this year, attributed the company's slip from its leadership position in the semiconductor market to "too many layers of management." He said, "The company achieved great success 20 to 30 years ago. So, I decided to join and restructure." Chen emphasized his focus on opportunities in the field of artificial intelligence and the nascent contract manufacturing business of Intel Corporation. He added that after sharing his strategic vision for Intel Corporation with U.S. President Trump, he successfully convinced him to invest.
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