New York, April 17, 2026, 1:35 PM EDT
Intel stock surged to intraday highs not seen since 2000, hitting $70.32 before settling near $68.75 in early afternoon trading. Investors piled in, betting on a potential turnaround for the chipmaker.
This is significant at the moment as the AI investment boom is moving past just accelerator chips. On April 9, Reuters said companies are putting more focus on deploying AI models over training them, which is boosting the need for server CPUs—the workhorse chips powering AI systems as they handle real-world requests.
The next key date on the calendar is April 23. That’s when Intel is set to release first-quarter numbers after the closing bell. Investors want to see whether all those recent announcements are translating into actual gains in sales, pricing, and margins.
The surge picked up pace after a string of news hits: an April 9 AI infrastructure deal with Google, Intel stepping into Elon Musk’s Terafab chip initiative on April 7, plus a $14.2 billion move to reclaim Apollo Global Management’s 49% holding in Ireland’s Fab 34 on April 1.
Last week, Intel CEO Lip-Bu Tan remarked that “scaling AI requires more than accelerators,” as Intel and Google expanded their collaboration on Xeon chips and custom infrastructure processors. D.A. Davidson’s Gil Luria pointed to the Tesla partnership as evidence that Intel can deliver for major clients on high-stakes projects, calling it an “important step” in the company’s restructuring. Intel Corporation
Mizuho and Bernstein bumped up their price targets and earnings forecasts for Intel this week, Barron’s said, though both firms stuck with neutral ratings. According to the report, Intel ended Thursday at $68.50—the stock’s highest close since September 2000. That puts April on track for Intel’s best month going back to 1974, and gives the chipmaker a one-month rally that outpaces both AMD and Nvidia.
Still, the rally heads into a make-or-break quarter. Bernstein’s Stacy Rasgon told MarketWatch to brace for what he called a “messy quarter for Intel,” with sluggish PC sales and pricier memory chips dragging on results. Wall Street hasn’t eased up either, pointing to tough rivals in AMD and Nvidia. Then there’s Intel Foundry, which logged a $10.32 billion operating loss in 2025. MarketWatch
Intel claims its financial footing looks firmer these days. After the Ireland transaction, CFO David Zinsner pointed to a “stronger balance sheet.” The company expects the move to boost both profit and its credit standing starting in 2027, even as it continues to advance 18A—the next-gen manufacturing node Intel still touts as something it could license to external clients. Intel Corporation
Right now, investors are gambling on Intel’s comeback being more than just talk. Shares hovered around highs not seen since the dot-com boom on Friday. April 23 is when the results will either back up the optimism or not.
