Intel CEO outlines three focuses, partners with Amazon, receives funding; market responds positively.

From Nasdaq: 2024-09-25 09:21:00

Intel CEO Pat Gelsinger outlines the company’s three focuses: foundry business, AI strategy, and cost structure. Amazon partners with Intel for custom chip designs, expanding strategic collaboration and investing billions. Market responds positively, with Intel stock up 6%. Also, Intel receiving up to $3 billion in funding via Chips Act. Expectation that partnership will boost Intel’s foundry business and provide reference customer credibility. Market cheers potential turnaround for Intel amid year-to-date stock decline.



Read more at Nasdaq: Investor Check-In: Intel, Amazon, and Microsoft