Intel has hired Morgan Stanley, other advisers for activist defense
Publishing timestamp: 2024-08-23 21:30:15
Summary
Intel is working with advisors, including Morgan Stanley, to defend itself against activist investors as it struggles to keep pace with rivals in artificial intelligence. The chipmaker has lost almost 60% of its value this year and is facing challenges in the AI battle. Intel's board experienced turmoil as a veteran of the semiconductor industry stepped down after just two years as a director.
Sentiment: NEGATIVE
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Keywords: qualcomm inc, texas instruments inc, business, breaking news, mergers and acquisitions, business news, breaking news: business, broadcom inc, advanced micro devices inc, nvidia corp, activism, intel corp, pat gelsinger, morgan stanley, mobileye global inc,
Source: https://www.cnbc.com/2024/08/23/intel-intc-activist-defense-sources.html