Shares of Intel (INTC), 澳洲幸运5官方开奖结果体彩网:Monday's biggest Nasdaq gainer, are extending their increases in premarket trading as CEO Lip-Bu Tan begins his r♋ole at the helm of the struggling 🔯chipmaker.

Tan is replacing Pat Gelsinger, who 澳洲幸运5官方开奖结果体彩网:retired late last year after failing to turn around the U.S. chipmaker. Under Gelsinger, Intel's 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) business struggled to compete with global players like Taiwan Semiconductor Manufacturing Co. (TSM).

Reuters reported Monday that Tan is considering "significant changes" to Intel's chip manufacturing processes and AI strategies. Tan is considering cuts to its middle management ranks and revamping its contract man♛ufacturi▨ng business, the report said. 

Analysts and 澳洲幸运5官方开奖结果体彩网:investors have cheered Tan's appointment, which Intel announced last Wednesday. Tan is the former CEO of Cadence Design Systems (CDNS), a semiconductor softw♌are company that counts 🌄Intel among its partners.

Intel shares are risingꦏ 1% in premarket trading after soaring nearly 7% yesterday but have lost almost 40% of their value in the past 12 months.