US Stock Market Move | Intel Corporation (INTC.US) rises more than 3%. The company halts the plan to spin off the NEX division.

On Friday, Intel Corporation (INTC.US) rose more than 3%, reaching $42.01. On the news front, on Wednesday, Intel Corporation announced that it was shelving its plans to divest its Network and Edge Computing business unit (NEX) and decided to keep the unit operating internally within the company. In an official statement released on Wednesday, Intel Corporation stated: "After a comprehensive evaluation of strategic options for NEX, including potential independent operational paths, we have determined that keeping this business within Intel Corporation is the most advantageous for its success. Keeping NEX within the company will help achieve closer integration between silicon chips, software, and systems, enhancing our customer solutions in the field of artificial intelligence, data centers, and edge computing." Sources revealed that the strategic shift at Intel Corporation was driven by a significant improvement in the company's financial condition. In August of this year, in a non-traditional transaction facilitated by the Trump administration, the U.S. government purchased a 10% stake in Intel Corporation. Additionally, SoftBank Group invested $2 billion in Intel Corporation, and NVIDIA Corporation added a $5 billion investment. Against this backdrop, Intel Corporation's stock price has more than doubled since the beginning of this year.