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Intel stock surges as chipmaker reportedly plans to cut 20% of workforce

Yahoo Finance
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Intel is the only American chip manufacturer capable of producing leading edge semiconductors at scale.

The chipmaker has struggled over the past several years to keep up in an increasingly AI -dominated market.

Shares of the iconic yet troubled chipmaker fell roughly 60% in 2024 and have dropped a more modest 2.7% year-to-date .

New CEO Lip-Bu Tan said last month that there were "hard decisions" ahead for the company.

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