Israeli construction technology startup Buildots said on Thursday it had received a $15 million investment led by Intel Capital to help it grow.
Artificial Intelligence, or AI, has been the hottest sector in the stock market. Since OpenAI released ChatGPT in November 2022, it has been a race to develop the best and smartest generative AI platforms.
The lion's share of stock market attention has centered around the technology sector, particularly with stocks exposed to the artificial intelligence race in its breakthroughs and adoption across the global economy. However, not all stocks are equal in that race; some have gotten more attention and capital, especially in the first half of 2024.
Leading the AI chip race, we all know Nvidia (NASDAQ: NVDA ) is king. Its competitors like Intel (NASDAQ: INTC ) may not be completely out of the picture.
Intel is investing in its long-term future in AI. Recent restructuring is already beginning to boost earnings.
Intel is betting big on manufacturing and untethering its products from its manufacturing tech. The company can regain market share from AMD, and its foundry business should be churning out profits by the end of the decade.
Intel (INTC) reachead $34.59 at the closing of the latest trading day, reflecting a +1.77% change compared to its last close.
Intel Corporation stock is currently unloved by Wall Street. Wall Street has become overly sensitive to its setbacks, especially those surrounding the foundry business. Intel Corporation's foundry business is a long-term investment to start with.
Shares of Intel (NASDAQ: INTC ) are up by 10% during the past five trading days. That's due to shorts covering, according to analysts at Mizuho.
Past performance suggests the stock could see a comeback in the remainder of 2024.
Intel Corp ( NASDAQ:INTC) is up 0.5% to trade at $34.17 at last check, pacing for its fifth-straight daily gain after nabbing its best single-day percentage gain since November in the previous session.
Shares of legacy Silicon Valley giant Intel rallied Tuesday to their highest level in months, bucking the multiyear trend of underperformance as investors favored Intel's rivals amid the artificial intelligence bonanza.