The Financial Post reports in its Thursday edition that hedge funds are unloading Intel. A Bloomberg dispatch to the Post reports that more Intel shares were sold by the funds than any other company aside from Nokia. A Bloomberg dispatch to the Post reports that Steven Cohen's Point72 Asset Management and David Tepper's Appaloosa Management were among those that slashed positions. Clearstead manager Jim Awad says: "If everyone is selling a stock, that says something. I favour the tech industry, but there are better ways to play it than Intel." Intel has faced souring sentiment in the early stages of its turnaround plan, which hinges on re-establishing its once-bulletproof lead in chip technology. The termination of its $5.4-billion (U.S.) deal to acquire Tower Semiconductor will be seen as a further setback. Intel has struggled to plant its flag in artificial intelligence computing, the subject of obsession for traders this year and currently dominated by rival Nvidia. That stock saw hedge fund bets rise by $11.4-billion (U.S.) in the second quarter while Advanced Micro Devices had a $1.5-billion (U.S.) increase. Funds cut their Intel interests by nearly half, with sellers outnumbering buyers two to one.