Intel Stock Rises Further as Tan Takes Helm of Chipmaker | Global News Avenue

Intel shares (INTC), Monday’s biggest Nasdaq bonusas CEO Lip-bu tan, they are expanding their listing deal growth start He plays the helm of a struggling chipmaker.

Tan is replacing Pat Gelsinger, who Retired at the end of last year After failing to reverse the U.S. chipmaker. Under Intel’s Gelsinger Artificial Intelligence (AI) Enterprises strive to compete with global players such as Taiwan’s semiconductor manufacturing companies ((TSM).

Reuters TAN is considering “significant changes” to Intel’s chip manufacturing process and AI strategy, it reported on Monday. The report said Tan is considering cutting the level of middle management and revamping his contract manufacturing business.

Analyst and investor Intel announced last Wednesday that Tan’s appointment was to cheer on. Tan is the former CEO of Cadence Design Systems (CDN), a semiconductor software company that computes Intel in its partners.

Intel shares surged nearly 7% yesterday, but lost nearly 40% of their value in the past 12 months, with Intel shares rising 1%.