Stock Market Today: Intel Falls 3% Amid CEO Scrutiny, Chip Rivals Rally
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Intel's shares fell 3.14% to $19.77 amid scrutiny of CEO Lip-Bu Tan's leadership, underperforming the chip sector. Trading volume surged as President Trump called for Tan's resignation due to ties with Chinese investors. In contrast, rivals AMD and Nvidia saw gains of 5.7% and 0.8%, respectively, buoyed by optimism for tariff relief. The Nasdaq Composite rose 0.4%, while the S&P 500 dipped 0.1%. Intel is shifting strategy towards edge computing and cost-cutting, acknowledging its decline in the AI chip race.
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