The CEO says the aim was for a "total project of 80 billion euros ($94.77 billion) over the next decade that would be a catalyst for the semiconductor industry... a catalyst for the entire technology industry"
Twitter Inc gained 4.2pc after it reported quarterly revenue growth, while Snapchat-owner Snap Inc surged 22.5pc on beating estimates for user growth and revenue.
"There are significant issues that must be overcome if this is to be a success, with investment ahead of time and profits unlikely until after 2025 if not later," Atlantic Equities analyst Ianjit Bhatti said.
"In the near term (2-3 years), we do not believe that Intel has an answer to AMD's market share gains."