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Ian KingFortune |
Candidates also would include Stacy Smith, a former Intel executive who joined the company’s board this year.
CFO David Zinsner and Michelle Johnston Holthaus, who is taking on a new role as CEO of the company’s product group, are serving as interim co-CEOs.
The shares rose 15% at $109.88 in New York trading, their biggest single-day gain since December 2011. The stock is up 29% this year.
Intel, once the world’s largest chipmaker, has been struggling with flagging sales and mounting losses — exacerbated by the loss of its...
Shares jumped more than 8% in late trading after the announcement. They had been down 58% this year, closing at $20.91 on Monday.
Nvidia shares suffered a record-setting rout on Monday, losing $279 billion on AI concerns.
Huang said the upcoming Rubin AI platform will use HBM4, the next iteration of the essential high-bandwidth memory that’s grown into a bottleneck...
The upbeat outlook reinforces Nvidia’s status as the biggest beneficiary of AI spending.
Nvidia, the $2 trillion AI giant, is moving to lap the market once again.
The awards are a central piece of the 2022 Chips and Science Act, which set aside $39 billion in direct grants to revitalize U.S. manufacturing.
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