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Intel stock jumps on plan to turn foundry business into subsidiary and allow for outside funding

By CNBC   |   Sep 16, 2024 at 04:05 PM EST
Intel stock jumps on plan to turn foundry business into subsidiary and allow for outside funding

Intel's stock surged 10% after announcing plans to spin off its foundry business, sell part of its stake in Altera, and collaborate with Amazon for custom AI chips. CEO Gelsinger aims to revamp the struggling chipmaker amid market challenges.

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