Intel appoints Lip-Bu Tan as CEO to orchestrate turnaround at struggling chipmaker, stock jumps 12%
Publishing timestamp: 2025-03-12 20:21:54
Summary
Intel appoints Lip-Bu Tan as new CEO, replacing Pat Gelsinger. Tan's appointment led to a 12% jump in stock price. Intel has had four permanent CEOs in seven years, facing challenges in the semiconductor industry. Tan aims to accelerate turnaround and capitalize on growth opportunities. Intel has struggled in AI market against Nvidia. Intel's market cap is significantly lower than Nvidia's.
Sentiment: MIXED
Keywords: nvidia corp, intel corp, breaking news: technology, pat gelsinger, david zinsner, business news, enterprise, cadence design systems inc,
Source: https://www.cnbc.com/2025/03/12/intel-appoints-lip-bu-tan-as-new-ceo-stock-up-11percent.html