Reported about 18 hours ago
Intel has appointed Lip-Bu Tan as its new CEO, replacing Pat Gelsinger, in a bid to turn around the beleaguered chipmaker which has significantly lagged behind competitors in recent years. Following the announcement, Intel’s stock surged nearly 13%, indicating investor optimism despite a troubling 54% decline in shares over the past year. Tan, who previously led Cadence Design Systems, faces the daunting challenge of revitalizing a company that has missed pivotal advancements in mobile computing and AI technology, amidst rumors of a possible takeover.
Source: YAHOO