New York, Feb 2, 2026, 10:55 EST — Regular session
- Intel shares jumped about 4.7% in morning trading after a shaky start
- A trade publication report has sparked renewed optimism about long-term prospects in outside foundry work
- Chip-supply updates are putting investors to the test amid a heavy slate of data and earnings this week.
Intel shares jumped 4.7% to $48.67 early Monday, rebounding from Friday’s $46.47 close. The stock fluctuated between $45.18 and $48.73, with about 33 million shares traded.
This is crucial because Intel’s turnaround depends heavily on its contract chipmaking business — the “foundry” segment — yet investors are still skeptical, looking for proof it can win outside clients. Having a pipeline of potential customers, even if far off, could ease worries amid current margin and volume pressures.
DigiTimes Asia’s weekly roundup reveals Apple and Nvidia are exploring a limited partnership with Intel for select 2028-era chips, hinting at a move toward dual-foundry sourcing driven by U.S. manufacturing rules. Nvidia’s “Feynman” platform will keep core GPU dies at Taiwan Semiconductor Manufacturing Co but shift parts of the I/O die and some advanced packaging to Intel. This shift taps into Intel’s EMIB chip-to-chip packaging tech and possibly their upcoming 14A process, assuming yields improve. At the same time, Apple is eyeing Intel for entry-level M-series chips, driven more by politics, cost, and supply chain diversification than problems with TSMC. DIGITIMES Asia
Intel is currently prioritizing the prestige of its clients over sheer volume. Landing even a small deal with a high-profile name signals that its fabs and packaging facilities carry influence beyond just Intel’s own chips.
The broader market showed sharp swings. U.S. stocks jolted as investors digested a sudden spike in precious metals following CME Group’s move to raise margin requirements—the cash needed to hold certain futures contracts—and Donald Trump’s selection of Kevin Warsh to replace Jerome Powell at the Fed in May, fueling concerns over interest rates. “You’re seeing a change in mindset in terms of where equity investors are looking for leadership,” said Jim Baird of Plante Moran Financial Advisors. Traders also faced nerves ahead of a packed earnings calendar and key economic data, with worries mounting over a potential partial U.S. government shutdown. Reuters
Chip price signals continue to swing. TrendForce raised its outlook for conventional DRAM contract prices, now expecting a 90%–95% jump in Q1 versus the prior quarter. The firm pointed to “persistent AI and data center demands in 1Q26” as widening the global memory supply-demand gap, boosting suppliers’ pricing leverage. Higher memory prices could tighten PC and data-center budgets, two crucial sectors still underpinning Intel’s near-term demand. Reuters
Intel’s latest earnings report shook investors. On Jan. 22, the chip giant said it’s struggling to keep pace with demand for server chips tied to AI accelerators. The company projected first-quarter revenue between $11.7 billion and $12.7 billion, missing estimates, with adjusted EPS expected to just break even. Shares dropped 13% in after-hours trading. CEO Lip-Bu Tan confessed, “In the short term, I’m disappointed that we are not able to fully meet the demand in our markets.” Meanwhile, Michael Schulman of Running Point Capital called it a “supply-constrained rather than demand-constrained” issue. Reuters
In this context, even cautious chatter between foundries and customers grabs attention, qualifiers such as “reportedly” and “limited” notwithstanding. Intel must persuade the market that its manufacturing roadmap will yield real orders, not just pilot projects.
Risks persist. Should yields slip, costs rise, or delivery timelines slip, Apple and Nvidia could confine Intel to peripheral projects—or cut ties completely. Given the multi-year horizon, changes in priorities are hardly unexpected.
Investors are scanning this week’s schedule for new triggers, zeroing in on Tuesday’s expected U.S. House vote on funding and Friday’s February 6 jobs report. Intel watchers will be watching closely to see if talks about future external projects turn into concrete customer deals visible in guidance, filings, or capex outlooks.
