35 Chip Stocks Powering AI Boom

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10. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 75      

Intel Corporation (NASDAQ:INTC) markets key technologies for smart devices. Latest reports reveal that Intel has qualified for around $3.5 billion in government grants to make semiconductors for the US military. Under the program, dubbed Secure Enclave, Intel will aim to establish production for advanced chips with military and intelligence applications. The program will span multiple states, including a manufacturing facility in Arizona. Intel stock had nosedived in the past few weeks on the back of reports that the firm was considering the sale of the foundry business as part of a larger overhaul of operations.

Intel Corporation (NASDAQ:INTC) has received bearish ratings on Wall Street after the quarterly earnings report of the company showed disappointing growth figures and guidance that fell short of analyst expectations. The company has also recently decided to lay off around 15,000 workers. The chipmaker has begun internal meetings aimed at restructuring the business around AI, with options like selling off subsidiaries and splitting the firm on the table.

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