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AMD Surges After Intel Reportedly Reveals Processor Flaw

Advanced Micro Devices Inc. (AMD) surged in the pre-market trading after a report that Intel Corp. (INTC) has a flaw in its products that makes commonly used operating systems vulnerable to hackers.

According to technology website The Register, A fundamental design flaw in Intel's processor chips has forced a significant redesign of the Linux and Windows kernels to defang the chip-level security bug.

Patches to Microsoft Corp.'s Windows and Apple Inc.'s OS X operating systems will be required and the security updates may slow down older machinery, according to the report.

AMD shares surged 7.38 percent to $11.77 Wednesday. But, Intel fell 3.54 percent to $45.25.

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Shares of General Electric Co. are rising more than 10 percent on Thursday after the industrial conglomerate said it plans to establish a new, independent company focused on building a comprehensive Industrial Internet of Things or IIoT software portfolio. In addition, longtime bearish analyst Stephen Tusa of J.P. Morgan upgraded shares of GE to neutral. Apple Inc. said Thursday that it will invest $1 billion to build a new corporate campus in North Austin that will eventually create 15,000 jobs. Further, the tech giant announced plans to establish new offices and expand to over 1,000 employees each in three cities - Seattle, San Diego and Culver City, California. In January, Apple said it will create over 20,000 jobs over the next five years. German telecom giant Deutsche Telekom, Chinese conglomerate Alibaba's Alibaba Cloud, banking giant Citi and 13 other organizations have joined Hyperledger Blockchain project, an open source collaborative effort aimed to advance cross-industry blockchain technologies. Hyperledger, a project of The Linux Foundation that started less than three years ago, is a multi-project.
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