From Nasdaq: 2024-09-17 13:08:15

Intel (INTC) is having a strong week, jumping after securing $3 billion in funding from the CHIPS Act and announcing a partnership with Amazon (AMZN). The stock is up 4.4%, reflecting investor optimism about the company’s reinvention post-restructuring.

Intel and Amazon announced a multibillion-dollar partnership for custom chips, including an AI fabric chip and Xeon 6 chip. This partnership is a win for Intel’s foundry business, which has been struggling financially compared to competitors like Taiwan Semiconductor.

While Intel’s recent wins are encouraging, investors should not overlook the company’s need for efficient execution. Intel’s turnaround will require more than just positive announcements, and its upcoming earnings report will provide insight into its progress in revamping the business.

Consider investing $1,000 in Intel carefully, as the Motley Fool’s Stock Advisor team does not consider it one of the 10 best stocks for investors to buy now. Past recommendations have seen significant returns, emphasizing the importance of due diligence before making investment decisions.



Read more at Nasdaq: Intel Teams Up With Amazon. Is the Chip Stock a Buy Now?