Reported about 2 months ago
Intel's shares rose by 3.1% following the announcement that Texas Instruments would receive $1.6 billion in government funding through the CHIPS Act for semiconductor development. This news reassured investors about continued government support for the domestic chip industry, a crucial factor for Intel as it seeks to recover from a challenging year marked by a 57% drop in stock prices. Despite restructuring efforts and layoffs, Intel remains optimistic about future growth opportunities in semiconductor manufacturing.
Source: YAHOO