Intel's Stock Rises After CEO Departure

Sources reported that Intel's CEO, Bob Swan, may step down from his position effective February 15. Swan has been the CEO of Intel since 2019, having served as interim CEO for seven months prior, during which Intel faced challenges from competitors. The sources indicated that Pat Gelsinger, the CEO of VMWare, will take over the role from Swan. Following this news, Intel's shares rose by about 12%, while VMWare's stock experienced a slight decline. Intel announced that its latest generation of chips will be delayed, while AMD has already begun shipping chips for laptops. Additionally, Apple's announcement in the fall that it will use its own chips in its Mac computers ended a partnership with Intel that lasted for 15 years.