Intel, benefiting from strong sentiment during Wednesday’s session and news of a partnership with Google, rose by more than 11%. The share price reached $59, approaching the highs from 2020 and 2000.
Google, part of Alphabet, announced that it will use the latest Xeon series processors manufactured by Intel. Intel’s CEO, Lip-Bu Tan, emphasized during the conference the flexibility offered by the new processor lineup, which, he stressed, is crucial for operations focused on artificial intelligence.
This is not the only significant commitment to Intel in recent days. On Tuesday, the company announced that it would join Elon Musk’s “Terafab” initiative. It is a data-center complex intended to support Tesla and SpaceX efforts in artificial intelligence and robotics.
However, the positive news for the company is not limited to declarations alone. Intel has managed to buy back its Xeon processor plant in Ireland, which it previously had to sell to Apollo Global Management.
INTC.US (D1)
The price continues an increasingly steep uptrend. The crossover of the EMA100 and EMA200 clearly signaled an upward wave, and momentum is accelerating. The price broke decisively above the resistance zone around $56, opening the way for a test of the $68 level. Source: xStation5.
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