Intel Stock Jumps As Upbeat Forecast Shows PC Rebound, Foundry Business Taking Shape Under New CEO
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Intel rose over 9% on upbeat forecast showing PC market rebounding, boosting chip stocks.
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Under CEO Pat Gelsinger, Intel making investments to turn around business and compete with TSMC.
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Secured 3 new foundry clients, expects a 4th by year-end as foundry business takes shape.
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Forecast beat estimates on smaller-than-expected decline in PC business segment.
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Faces heavy competition from Nvidia in data center market, though interest rising in its AI chips.
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