Reported 1 day ago
Intel Corp. saw its shares soar by 23.1% in a week, buoyed by the potential financial backing from the US government aimed at revitalizing the struggling chipmaker. This change in sentiment followed a meeting with President Donald Trump, who praised CEO Lip-Bu Tan after previously calling for his resignation. The government is reportedly considering using funds from the 2022 CHIPS Act to acquire a significant stake in Intel as it seeks to recover from years of industry challenges.
Source: YAHOO