Intel shares jump as investments, cost cuts catapult turnaround efforts

By Rashika Singh (Reuters) -Intel shares surged as much as 7.8% in early trading on Friday, hitting an 18-month high, as investors rallied behind CEO Lip-Bu Tan's aggressive cost-cutting measures that helped the chipmaker surpass quarterly profit estimates and regain stability amid a flurry of high-stakes bets on future growth. The results mark a turning point for Intel, which has struggled to maintain relevance in the face of fierce competition and manufacturing setbacks. After a bruising 2024 that saw ...