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.

Wall Street responded positively to the appointment of Lip-Bu Tan as Intel's new chief executive officer. But Intel stock faces a rocky road ahead.

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