Posted 2/20/2024, 8:33:36 PM
Intel Stock Rises as CHIPS Act Funding and Fab Business Plans Offer Promise Despite AI Selloff
- Intel stock rose 2.1% on Tuesday while other AI stocks like Nvidia and AMD fell due to inflation concerns
- Intel could receive up to $10B in grants/loans from the CHIPS Act to support its chip fabrication business
- Intel is hosting a conference Wednesday to provide updates on its foundry business
- Intel aims to grow its semiconductor fabrication capabilities as geopolitical risks threaten Taiwan Semiconductor's dominance
- Investors are optimistic about Intel's future fab business plans to be less reliant on overseas chip production