Intel ’s stock is soaring after Lip-Bu Tan, a respected veteran in the semiconductor industry, was chosen as its new CEO. The appointment comes three months after the chipmaker, which falling behind in the A.I. race pushed out former head Pat Gelsinger.

Intel has appointed Lip-Bu Tan as its new Chief Executive Officer, ending a three-month leadership gap following the departure of Pat Gelsinger. Tan will

With a permanent CEO, Intel now has some stability. But turning around the design and manufacturing businesses won’t be easy.