Intel stock rises 8% to $47.50 after $14.2B Ireland repurchase
Business
Big moves in tech: Intel's stock shot up 8% to $47.50 after announcing a $14.2 billion repurchase of nearly half of its Ireland chip factory, aiming to boost its AI chip production.
This deal gives Intel more control over making next-generation chips, which are in huge demand thanks to the AI boom.
AMD stock rises amid AI demand
AMD's stock also climbed 3% to about $209, fueled by growing demand for its AI processors. Companies like Upstage are eyeing massive orders of 10,000 chips.
With CPU prices rising 10% to 15% due to supply shortages, both Intel and AMD are seeing strong investor confidence as they race to power the future of AI.