These 10 Stocks Defied Thursday’s Slump

1. Intel Corp. (NASDAQ:INTC)

Intel Corp. jumped by 14.6 percent on Thursday to end at $23.7 as investors cheered the company’s new leadership with the appointment of chip industry veteran Lip-Bu Tan as its new chief executive officer.

On Wednesday, INTC said Tan would lead the company effective March 18, 2025, signaling that the company was unlikely to split up its chip design and manufacturing operations.

Tan was said to have been offered the CEO position in December last year to lead the company, which was said to be an acquisition target by two of the world’s largest semiconductor manufacturers—Taiwan Semiconductor and Broadcom.

“Together, we will work hard to restore Intel’s position as a world-class products company, establish ourselves as a world-class foundry and delight our customers like never before,” Tan said in a letter to Intel employees.

While we acknowledge the potential of INTC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than INTC but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.