Intel shares surge as investors cheer appointment of new CEO Lip-Bu Tan

Group 1 - Intel's shares surged nearly 15% following the appointment of Lip-Bu Tan as CEO, a decision welcomed by Wall Street [1] - Tan's primary challenge will be to revive Intel's fortunes after the company missed the AI-driven semiconductor boom and faced significant market share losses in data centers and PCs [2][4] - Over the past five years, Intel's stock has lost about 60% of its value, contrasting sharply with the performance of the Nasdaq Composite Index and S&P 500, which have both more than doubled during the same period [2] Group 2 - Analysts believe Tan's deep relationships within the chip ecosystem could attract customers to Intel's contract manufacturing business, which is crucial for the company's turnaround [3][5] - Tan's previous experience on the Intel board and his tenure at Cadence Design Systems are seen as assets that will aid his leadership [5][6] - Despite optimism, any potential turnaround for Intel is expected to take years, with the company's market value remaining below $100 billion for the first time in three decades [7]