NEW YORK, June 17, 2026, 04:19 (EDT)
- Intel was last quoted at $117.05 before the bell, down $10.85, while the iShares Semiconductor ETF was off 5.9%.
- Intel said its 18A-P manufacturing process entered risk production, an early production stage before high-volume output.
- The update gives investors a new marker for Intel’s foundry turnaround, but yields, customer wins and weak chip-sector trading remain the test.
Intel shares fell sharply before Wednesday’s Nasdaq open, as a fresh manufacturing milestone failed to offset pressure from a broader semiconductor selloff. The stock was last quoted at $117.05, down about 8.5% from the previous close, at 4:04 a.m. EDT.
The move matters because Intel’s stock has become tied less to its old PC-chip story and more to whether it can turn Intel Foundry, its contract-manufacturing business for outside chip designers, into a credible rival in advanced production.
Intel said late Tuesday that 18A-P, an enhanced version of its 18A process, had entered “risk production.” In plain terms, that is limited early manufacturing used to check defects, performance and consistency before a process moves toward larger-scale output. Reuters
The company said 18A-P delivers 9% higher performance at the same power, or 18% lower power at the same speed, compared with 18A. It also said the process is design-rule compatible with 18A, meaning customers can reuse much of the technical layout work already done for the earlier process.
“Our updates and presentations at VLSI signal to Intel Foundry customers and partners that we are fully committed,” Naga Chandrasekaran, Intel Foundry’s executive vice president and general manager, said in the company statement. He added: “We have more work ahead.” intc.com
Analysts framed the step as useful, not final. Dan Hutcheson, vice chair of TechInsights, told MarketWatch that moving to risk production means Intel is “ready to take on external customers” and called 18A-P a “critical milestone in Intel’s recovery.” Creative Strategies CEO Ben Bajarin called it “a big step up,” while noting Intel Foundry “has consistently been a loss leader.” MarketWatch
The tape was not helping. On Tuesday, the Nasdaq fell 1.15% and the S&P 500 lost 0.57%, while the Philadelphia semiconductor index dropped 5.7% as investors sold richly valued technology stocks after a sharp run.
Peer moves showed the same pressure before the bell: AMD was down 7.3%, Nvidia slipped 2.4% and Taiwan Semiconductor Manufacturing’s U.S.-listed shares fell 3.5%. Those moves matter for Intel because AMD and Nvidia shape demand expectations in AI compute, while TSMC is the contract-manufacturing benchmark investors use to judge Intel’s foundry ambitions.
Intel also has a demand story in its favor. Reuters reported that demand for Intel central processors from AI-service firms was strong enough in the first quarter that the company sold some chips it had previously written off, and Intel forecast second-quarter revenue of $13.8 billion to $14.8 billion, above the $13.07 billion estimate compiled by LSEG.
But the risks are plain. Yield — the share of working chips produced from each wafer — will decide whether 18A-P is profitable enough to win outside volume, and risk production can still expose cost or reliability problems. If customers wait for later nodes, or if the chip selloff deepens, the stock could stay under pressure even with better technology on paper.
