Intel Stock Surges on Nvidia Stake and Apple Foundry Rumors
Intel shares rallied sharply as Nvidia's $5 billion equity stake injected confidence in the chipmaker's AI ambitions. The stock now trades NEAR the top of its 52-week range, having more than doubled over the past year.
Fresh speculation about Apple potentially using Intel's foundry services added fuel to the rally. However, analysts caution the move may have outpaced fundamentals, with the stock showing extreme volatility - plunging 7% earlier in the week before rebounding 4% on AI optimism.
The Nvidia partnership represents a strategic pivot, with the GPU giant taking a 4% stake at $23.28 per share. This alliance extends beyond financial investment, potentially reshaping Intel's position in the semiconductor landscape.