Tech
Intel shares jump 7% as investments, cost cuts catapult turnaround efforts
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Intel shares surged as much as 7.8% in early trading on Friday, hitting an 18-month high, as investors rallied behind CEO Lip-Bu Tan’s aggressive cost-cutting measures that helped the chipmaker surpass quarterly profit estimates and regain stability amid a flurry of high-stakes bets on future growth.
The results mark a turning point for Intel, which has struggled to maintain relevance in the face of fierce competition and manufacturing setbacks.
After a bruising 2024 that saw its first annual loss in nearly four decades, the company is now leaning on…
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