If chip stock Intel (INTC) needed anything right now, a powerful friend is probably not very far down the list. And that is just what it got,

Nokia Oyj will replace Chief Executive Officer Pekka Lundmark with Intel Corp.’s recently appointed head of artificial intelligence Justin Hotard in a surprise announcement as the network equipment maker works to exit a prolonged slump in orders from phone operators.

So chip stock Intel (INTC) just lost Justin Hotard to Nokia Oyj (NOK). This might seem like a blow to Intel’s operations, but investors have

In an unexpected turn of events Justin Hotard, the executive vice president and general manager of the Data Center and AI Group (DCAI) at Intel, left the company to become chief executive of Nokia. Intel has appointed an internal head for its datacenter and AI unit and will start searching for a new permanent general manager immediately.