Why Intel stocks soar today
Shares Intel (NASDAQ:INTC) Fly higher on Tuesday. The company's stock rose 6.6% as of 3 p.m. ET, but rose 10.7% earlier in the day. The harvest is here S&P 500 Slide 0.1%, Nasdaq Composite Materials The day fell 0.2%.
Intel announced yesterday that Justin Hotard, head of its data center and artificial intelligence (AI) operations, left the company Nokia. This comes after the embattled chipmaker lost his CEO's heels in December.
Intel has been working to keep up with competitors in Uber-Laccrative data centers and AI, and its stock reflects this poor performance, down about 50% last year from last year. Despite some uncertainty this news brings, the departure of those responsible for this critical but failed sector has been welcomed by investors seeking turnaround.
The comments made by Vice President JD Vance in his keynote speech at the Paris AI Summit today were also helped by Intel Stock. The vice president promised that the United States would protect U.S. AI technology and urged European regulators to reduce regulations on AI.
Intel is a U.S. company with manufacturing capabilities among rival chip manufacturers in the U.S. Nvidia Mainly manufactures chips in Taiwan. Intel could be the direct beneficiary of any move the Trump administration aims to promote domestic AI. The vice president's speech seemed to make Intel investors hope so.
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Johnny Rice has no position in any of the stocks mentioned. Motley fool has a place and recommends Intel and Nvidia. Motley Fool recommends the following options: A brief $27 Intel phone for February 2025. Motley Fool has a disclosure policy.
Why Today's Intel Stock Soar was originally published by Motley Fool