Intel confirms further layoffs, stock price jumps nearly 9%

Intel's stock price surged on Tuesday, after the company confirmed it will further downsize in order to reduce costs and adjust its key data center department. Intel's stock rose by 8.6%, and the technology company announced layoffs in the data center department, but did not disclose a specific number. This continues the stock's upward trend this year, signaling progress in turning things around under the leadership of CEO Chen Liwu.