Posted 2/20/2024, 8:33:36 PM
Intel Bucks AI Stock Slump As Chip Funding Prospects Brighten
- Intel stock rose 2.1% on Tuesday while other AI stocks fell, bucking the bearish trend
- Intel may receive up to $10B in government funding for its chip fabrication business per the CHIPS Act
- Intel is gaining despite broader economic concerns like inflation impacting consumer spending
- Intel will host a conference Wednesday providing updates on its foundry business
- Intel aims to grow its semiconductor fabrication capabilities as geopolitical risks threaten Taiwan Semiconductor's dominance