Intel (INTC) Stock: CEO Signals Memory Market Return After $20B Raise
TLDR
- Intel CEO Lip-Bu Tan flagged a potential return to the memory chip market, calling new memory architecture “one of my pet projects”
- Intel completed a $20 billion stock offering on August 10, priced at $95 per share, its first equity raise since going public in 1971
- Intel hired former SK Hynix CEO Seok-Hee Lee as EVP of Intel Foundry in June, seen as a signal of memory ambitions
- Intel filed a patent for “cross-batch memory” (XBM) and is co-developing Z-Angle Memory (ZAM) with SoftBank subsidiary SAIMEMORY
- INTC is up roughly 180% year-to-date; analysts hold a consensus “Hold” rating with a price target of $107.85
Intel CEO Lip-Bu Tan hinted at a possible return to the memory chip business during an appearance on the TechSurge: Deep Tech VC Podcast on August 13. INTC opened at $104.56 on Friday, up about 3.6% on the day.
Tan described new memory architecture as “one of my pet projects,” adding: “I used to not invest in memory because it was kind of a commodity business. But now it has become different.”
… Continue reading the full article at the original source below.
This content is automatically aggregated. Full credit goes to the original publisher (coincentral.com).
