Intel stock rose after news of its chip deal with Amazon but the semiconductor company still needs to convince on execution and bringing in more customers.
Intel announced numerous updates and customer wins for its foundry business.
Intel (INTC) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might help the stock continue moving higher in the near term.
Intel Corp (NASDAQ:INTC, ETR:INL) has outlined plans to split its foundry business into a separate subsidiary with its own governance structure within the wider group. Intel Foundry comprises the Santa Clara-headquartered technology trailblazer's semiconductor manufacturing wing, which is an aspect of the business chief executive Pat Gelsinger has been at pains to grow.
German Chancellor Olaf Scholz said on Tuesday that Intel is committed to its plan to build plants in eastern Germany despite the U.S. chipmaker's announcement that it is delaying construction by two years amid cost-saving measures.
Chip-making giant Intel on Monday said it was delaying its plans to build two mega chip-making factories in Germany and Poland as the company faces lower demand than anticipated.
Intel expands its collaboration with AWS and announces other changes inside the company.
Intel (INTC) shares surged in extended trading on Monday after the embattled chipmaker's CEO Pat Gelsinger provided an update on the company's plans to slash costs and turn around its business.
A co-investment between microchip giant Intel (INTC) and cloud services giant AWS (AMZN) was announced this afternoon, pushing INTC shares up +8%.
Intel Corp.'s plans to create an independent subsidiary for its foundry business was a much-needed move aimed at convincing potential customers that they can trust their chip designs with a competitor's manufacturing arm.
Intel (INTC) shares surged in extended trading Monday after CEO Pat Gelsinger offered an update on the chipmaker's plans to cut costs and bolster its business, with investors awaiting signs of a turnaround for its stock.
A new budget dispute emerged within Germany's ruling coalition on Monday, with the finance ministry saying funds no longer needed to subsidize Intel's new chip-making plants should be used to balance the books and the economy ministry pushing back.