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VanEck Semiconductor ETF Newsroom
AI transformation difficulties, performance losses, market cap shrinking by nearly half, intel CEO "forced" to retire, stock price surged by nearly 6% at one point.
Pat Gelsinger, the CEO who worked at intel for over 40 years, officially retired on December 1st, Eastern Time. During his nearly four-year tenure, despite intel's ambitious plans, the market position continued to decline. The board of directors lost confidence in his ability to turn the situation around and ultimately gave him the choice of retiring or being dismissed, with Gelsinger opting to end his career at intel. Following the announcement, intel's stock price surged more than 5.7% during trading on Monday.
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Nasdaq, S&P hit new highs, French stock and bond yields fluctuate and rise, Euro once fell more than 1%, Dollar rose.
On the first trading day of December, Cyber Monday shopping amounts will break records, with the Nasdaq and Chinese concept stocks rising about 1%, and the chip index leading with a 2.6% increase, while the Dow fell from its peak. Tesla soared over 4% during the day, intel rose nearly 6% before turning negative, super micro computer surged nearly 29%, and Xpeng autos climbed over 5%, but Li Auto dropped nearly 4%. The French government faces a vote of no confidence, causing French stocks to briefly fall over 1%, and the spread between French and German government bond yields approached the widest in twelve years. US henry hub natural gas fell over 4%, the indian rupee hit a new low, and the offshore yuan dropped over 400 points, falling below 7.29 yuan.
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nvidia participated in the investment, a european AI infrastructure company raised 0.7 billion, and it was once known as the 'Russian version of Google'.
① The Dutch AI infrastructure company Nebius Group NV announced that it has secured $0.7 billion in funding, with investors including Accel and nvidia; ② The funding will be used to build a full-stack AI infrastructure, including large-scale GPU clusters, cloud platforms, and developer tools; ③ Before July of this year, the name of Nebius Group was "yandex NV."
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The CEO of intel suddenly retired, reportedly forced out by the board of directors due to poor performance.
① intel announced on Monday that CEO Pat Gelsinger will retire on December 1 and resign from the company's board of directors; ② According to informed sources, the conflict between Gelsinger and the board of directors reached an irreparable point during last week's board meeting. The intel board believes that Gelsinger failed to effectively lead the company in catching up with nvidia and lacks confidence in his recovery plan.
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