** Intel Corp INTC.O shares are up 1.5% at $20 on Tues after former subsidiary, Cornelis Networks, released a suite of networking hardware and software aimed at boosting the speed of artificial intelligence chips
** Cornelis "CN5000" networking chips use a new network technology created by Cornelis called OmniPath - which was developed at Intel
** Cornelis was spun out of Intel in 2020 and is still backed by the chipmaker's venture capital fund. Cornelis CEO Lisa Spelman is a former Intel executive
** Among 46 analysts that cover INTC, avg rating is "HOLD" and median PT is $21
** Intel is down 0.8% YTD vs NASDAQ Composite Index's .IXIC 0.1% increase.
(Reporting by Chibuike Oguh in New York)
((Chibuike.Oguh@thomsonreuters.com; +332-219-1834; Reuters Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.