Intel shares jump 7% as investments, cost cuts catapult turnaround efforts

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…