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Chip Group Intel Up on Wall Street Due to Investment Plans

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Chip group Intel was a winner on the stock exchanges in New York on Wednesday, thanks to the investment plans’ announcement in production capacity.

 

The share of computer game retailer GameStop, which has recently been making a kind of rollercoaster ride on the stock exchange, dropped sharply after disappointing quarterly figures and the possibility of a share issue by the company. The primary degree meters on Wall Street were predominantly in green when they opened.

Intel (plus 2.2 percent) will invest $ 20 billion to increase its manufacturing capacity. Among other things, new factories are being built in the American state of Arizona.

The plan comes from the new CEO Pat Gelsinger and should help Intel to better compete with rivals such as the Taiwanese TSMC and the South Korean Samsung Technologies. In addition, Intel also wants to make chips that are designed by other companies, an activity called foundry.

The Dow Jones index recorded a plus of 0.9 percent on 32,710 points in the opening minutes. The broad-based S&P 500 climbed 0.6 percent to 3933 points, and the Nasdaq technology gauge was virtually unchanged at 13,016 points.

Tesla could also count on attention with a minus of 0.9 percent. Americans now have the option to pay with bitcoins at the car manufacturer, said CEO Elon Musk on Twitter. Customers outside the United States will have to wait a while before buying branded electric cars with cryptocurrency. Earlier this year, Tesla announced its intention to accept bitcoins as a means of payment.

The aviation sector showed some recovery from the sharp price losses of recent days. For example, Delta Air Lines, American Airlines and United Airlines won up to 4.6 percent. So did the cruise lines Royal Caribbean Cruises and Carnival, which rose to 4.3 percent.

Auto group General Motors (GM) won 0.9 percent, despite news that GM is extending production shutdowns in several North American factories due to a chip shortage.

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