Shares of (NASDAQ: INTC) rose today, finishing up 2.3%, though it had gained as much as 5.8% earlier in the day. The jump came as the S 500 and Nasdaq Composite gained 0.1% and 0.3%, respectively.
Intel stock continued to climb after Wednesday's announcement that the embattled chipmaker would not sell off its networking and communications (NEX) unit.
Intel had been considering spinning off NEX earlier this year, along with other parts of its business, as part of efforts to streamline operations, cut costs, and shift focus toward artificial intelligence. But in a statement Wednesday, the company said that "keeping NEX in-house enables tighter integration between silicon, software, and systems, strengthening customer offerings across AI, data center, and edge."
Source Fool.com