Intel (NASDAQ:INTC) has surged nearly 20% over the past week to levels of about $24.50 a share. So what's been fueling the gains?
The Trump administration is said to be considering using funds from the Chips Act to take a stake in Intel, according to sources. Bloomberg's Joe Deaux joins Caroline Hyde and Ed Ludlow on “Bloomberg Tech.
Patrick Moorhead, Moor Insights and Strategy CEO, joins 'Power Lunch' to discuss Moorhead's reaction to the latest news regarding Intel, the government's ties to the company and much more.
Intel might be going into business with an unlikely partner: the U.S. government.
A potential deal with the Trump administration is shaping up to be a saving grace for Intel (INTC), which saw its shares climb Friday while other semiconductor stocks slid.
As Intel's stock heads for its biggest weekly gain in 50 years, analysts wonder if the U.S. government can really help the company fix its technological issues.
Key Points in This Article: The Trump administration's potential stake in Intel's (INTC) $28 billion Ohio facility sparked a 7% stock surge yesterday and another 5% rise today.
Interest from the US government potentially signals Intel as a critical player in U.S. semiconductor and national security strategy. The company's renewed strategy focuses on revamping its foundry business, launching Panther Lake on 18A, and moving toward full-stack AI solutions. The stock trades at deep valuation discounts, reflecting low expectations and past execution missteps.
CNBC's Eamon Javers joins 'Squawk Box' with the latest news from Intel.
Intel Corp (NASDAQ:INTC, ETR:INL) shares jumped 11% after hours on Thursday, adding about $10 billion to its market value, after reports the US government is considering taking a stake in the chipmaker. Bloomberg said the move could help fund Intel's long-delayed chip manufacturing complex in Ohio, first announced in 2022 as a $20 billion project with potential expansion to $100 billion.
Intel Corporation hit rock-bottom more so after getting dissed by President Trump last week, but this week comes with positives with the Monday White House meeting leading to a potential government stake. Trump is cutting deals and CEO Tan's Intel is the latest target in a good way; the government stake could give legs to the foundry growth story. Even before today's pop, INTC outperforms the S&P 500 YTD. We think it could be on its way to break the $30 mark, something that hasn't happened since last August.
Intel (INTC) shares surged Thursday following a report that the Trump administration is considering taking a stake in the struggling chipmaker.