Intel’s stock rose 9.25% on Friday following reports of a potential buyout. Analyst Pedal cited connections between Qualcomm, GlobalFoundries, and Elon Musk at Mar-a-Lago. Intel CEO Paul Gelsinger’s resignation this week has fueled speculation about the company’s future. The tech giant faces significant challenges, including a 69% stock decline since April 2021 and a foundry division struggling to win customers.
Cloud companies are shifting their business from CPUs to Nvidia and other GPUs, exacerbating Intel’s financial difficulties. Despite spending $26 billion in 2023, the company’s operating cash flow has fallen to $9.7 billion from $36 billion in 2020. Industry insiders warn that Intel’s failure could pose geopolitical risks due to its U.S.-based chip production. A buyout is seen as a potential lifeline for the struggling company.
Source: https://finance.yahoo.com/news/intel-stock-soars-amid-buyout-121843027.html