Intel’s head of data-center and artificial-intelligence operations is leaving the group to take the helm of European telecommunication group Nokia, the latest high-profile departure at the chip maker as it struggles to revamp its business.

The long-term high turnover rate at Intel of senior managers holding HPC and AI-related responsibilities continues apace with today’s news that Justin Hotard, EVP/GM of the company’s Data Center and AI Group,

Finnish telecoms company Nokia on Monday said Pekka Lundmark would step down as CEO, and that it has appointed Justin Hotard to take over his role.

Justin Hotard, Intel’s head of data-center and AI operations, is leaving to head up Nokia. Shares of the telecom-gear maker rallied over 2% in Europe; U.S.-listed Intel shares edged higher premarket.

Intel stock (INTC, Financial) rose by 5% on the first day of the week after the company lost its AI chief to Nokia. The news arrives as executive Justin Hotard announced

After only a little more than a year of running Intel’s Data Center and AI group – which is probably about as much fun right now as falling down the

Nokia has hired its first CEO from America in a renewed pivot to AI designed to arrest years of low valuations and stagnant revenue growth. The Finnish telecoms group announced the appointment of Justin Hotard,

The company appointed Hotard as it moves to diversify and search for new growth areas outside of its traditional telecom operator market.

Nokia Oyj said it was replacing Chief Executive Officer Pekka Lundmark with Intel Corp.’s Justin Hotard in a surprise announcement as the network equipment maker works to exit a prolonged slump in orders from phone operators.