Intel Stock Jumps as Upbeat Forecast and New Customers Signal Turnaround for Chipmaker

Intel stock surged over 9% as upbeat forecast signals PC market rebound, boosting chip stocks.

Under new CEO Pat Gelsinger, Intel aims to turnaround by making infrastructure investments to gain edge in chipmaking.

Intel secured 3 new foundry customers, expects a 4th by year-end, showing interest in its offerings.

Intel's Q3 revenue and margins beat estimates, with smaller-than-expected decline in PC business segment.

Intel faces pressures in data center market from Nvidia, but sees rising interest for its AI chips like Gaudi.