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Intel shares rise as CEO updates on chip security fix

Intel shares closed higher in the US Monday, as the chip maker’s CEO told the Las Vegas CES conference that some 90% of its chip-flawed products would be patched by the end of the week. Brian Krzanich also said Intel’s autonomous driving tech would be used in some 2 million vehicles.

Intel shares ended the US trading session higher at $44.75 per share. However, out-of-hours trading, currently has the Intel stock in negative territory.

Intel working hard on chip security flaw

In his CES keynote address, Intel’s CEO Krzanich told the audience that after some industry-wide collaboration, Intel would be in a position to update 90% of its processors within a week. The remaining updates would be rolled out by the end of January.

“The collaboration among so many companies to address this industry-wide issue across several different processor architectures has been truly remarkable,” Krzanich said.

“Security is job number one for Intel and our industry. So, the primary focus of our decisions and our discussions have been to keep our customer’s data safe,” he added.

Krzanich went on to say: “As of now, we have not received any information that these exploits have been used to obtain customer data. And we are working tirelessly on these issues to ensure it stays that way.”

Intel’s Mobileye tech to be used by numerous carmakers

The Intel CEO also informed his CES audience that his company’s autonomous driving tech – Mobileye – would be used by a number of carmakers, including BMW, Volkswagen and Nissan.

The chip maker has also signed a deal with Ferrari to utilise Intel’s AI capabilities to give fans of Ferrari an enhanced experience.

And, the tech firm achieved a new Guinness World Record when Krzanich presented an indoor light show conducted by 100 Intel Shooting Star mini drones, on stage.

“If you are impressed by what you see at CES this week, stay tuned,” Krzanich said. “We are still discovering new ways to apply the power of AI and data. These discoveries will impact nearly every sector of innovation, and Intel is at the forefront of this revolution.”

About the author

Ilona Billington
Ilona is a freelance writer and editor with over 15 years experience reporting and writing about UK and European economics, real estate, financial markets and central banks.

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