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Intel shares jumped by almost 15% on the news of the restructuring

September, 17 2024
watermark Economic news

Intel shares soared 8% after the end of the main session on Wall Street on Monday, gaining almost 6.5% during the day. As a result, the overall growth was about 15%.


This was the reaction of investors to the company's plans to separate the manufacturing business into an independent division with its own board of directors and the possibility of attracting external capital. 


Intel CEO Pat Gelsinger expressed hope that this step would allow the manufacturing division to gain access to additional sources of financing. The foundry, which Intel has spent about $25 billion on over the past two years, will focus on producing chips for third-party customers, which should improve the company's financial results.


In addition, Intel has signed a deal with Amazon Web Services to create specialized chips for artificial intelligence, expanding its cooperation with Amazon. 


At the same time, the company announced a temporary suspension of production in Poland and Germany for two years due to projected demand, and also reduced plans to build a plant in Malaysia. Production projects in the USA will remain unchanged.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.