Tech
Intel jumps nearly 15% as investors cheer appointment of new CEO Tan
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Shares of Intel surged nearly 15% on Thursday, as Wall Street cheered its decision to name former board member Lip-Bu Tan as CEO, who left in August over differences about the chipmaker’s direction, after several years of market underperformance.
Tan will be tasked with reviving the company’s fortunes after it missed out on the artificial intelligence-driven semiconductor boom while plowing billions of dollars into building out its chip-making business. Intel has posted several quarters of market share losses in data centers and PCs, as well as…
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