Read More:
Distribution
Intel shares fell sharply on Thursday following news that the Pentagon had withdrawn a $2.5 billion grant to the company for the production of advanced semiconductor chips.
Impact on Intel
The decision by the Pentagon to cancel the grant is expected to have a significant impact on Intel’s future earnings and growth prospects.
Investors React
Investors reacted negatively to the news, causing Intel’s stock to plummet by over 5% in early trading.
Company Statement
In a statement, Intel expressed disappointment at the Pentagon’s decision and emphasized the importance of government support for the semiconductor industry.
Future Outlook
The withdrawal of the grant raises questions about Intel’s ability to compete with other chip manufacturers who receive significant government funding.
Conclusion
Overall, the report of the Pentagon’s withdrawal of the $2.5 billion chip grant has had a significant impact on Intel’s stock price and future prospects in the semiconductor industry.
Read More:
- Sweeping public safety bill in D.C. aims to increase security, undoing past changes
- Get Ready for Enchanting Adventures in Season 4 with Witch Doctor
- Talk therapy shown to be effective in addressing psychological factors contributing to back pain
- Microsoft eliminates Android app integration on Windows 11
- Seven Years Later: Racing Game Enjoys Explosive Success on Steam Thanks to Epic Sale
+ There are no comments
Add yours