NEW YORK, April 13, 2026, 12:01 PM EDT
Intel climbed for the eighth straight session on Monday, tacking on another $2.09 to $64.47 by 11:45 a.m. EDT. The rally has now swollen its market cap by over $100 billion. A fresh bullish price target and a flurry of deal headlines continued to draw buyers into the chipmaker.
Why does this matter? Investors are already shifting focus, eyeing not just AI training chips but also the processors required when those systems are actually up and running. Just last week, Reuters noted that Google had broadened its collaboration with Intel, working on both Xeon server chips and custom infrastructure processors. As the industry pivots from training AI models to rolling them out, that could translate into higher demand for traditional compute. Intel’s first-quarter results are due April 23.
The list of catalysts keeps expanding. On April 1, Intel agreed to buy back Apollo Global Management’s 49% stake in its Fab 34 plant in Ireland for $14.2 billion. Not long after, the chipmaker said it will team up with Elon Musk’s Terafab initiative alongside Tesla, SpaceX, and xAI. Intel also tightened its multiyear ties with Google, working together on Xeon processors and custom infrastructure processing units—hardware that shifts networking, storage, and security tasks off the primary CPU. Shares have soared 69% this year on top of an 84% rally in 2025.
Benchmark’s Cody Acree bumped his price target on Intel to $76 from $57 this Monday, arguing that Google’s backing underscores the resilience of Intel’s x86 server architecture—the backbone for much of the data center space—especially as AI setups increasingly blend CPUs, GPUs, and custom chips. He pointed to the Terafab partnership, saying it further validates Intel’s 18A process, the chipmaker’s next-gen manufacturing tech. Barron’s noted that Acree’s target suggests a potential upside near 20% from where shares were trading recently.
Last week, Intel CEO Lip-Bu Tan argued that “scaling AI requires more than accelerators.” Google Cloud’s chief technologist, Amin Vahdat, pointed to the Xeon roadmap as a reason the company trusts Intel to deliver on higher performance and efficiency, reinforcing Intel’s view that AI deployments will keep relying on general-purpose CPUs alongside custom hardware. Reuters
This marks a stark pivot for a company that trailed Nvidia in AI accelerators and continued to cede PC ground to AMD. Back in January, Reuters noted that Intel shares had surged 84% in 2025—this after tumbling over 60% during 2024. The dramatic bounce followed cash infusions from Nvidia, SoftBank, and the U.S. government, all giving Intel’s balance sheet a much-needed boost.
Some optimists now argue the market may be shrugging off the worst. Thomas Hayes of Great Hill Capital said Intel was “no longer on life support.” Ben Reitzes at Melius Research noted Friday that “the Intel narrative keeps accelerating.” Jay Goldberg of Seaport added that Wall Street likely isn’t giving enough credit to Intel’s long-term earnings potential. The Edge Malaysia
Still, valuation is quickly becoming the new sticking point. Out of 52 analysts Bloomberg follows, just 10 call Intel a buy—six say sell. The stock sits roughly 27% above the average price target, and it’s trading at more than 90 times projected earnings for the next year. Intel Foundry, which handles contract manufacturing, booked a $10.32 billion loss in 2025. Management is also contending with 18A yields that continue to lag expectations.
April 23 will bring a tougher challenge for Intel, as the company posts its quarterly numbers after the bell. Right now, the market seems confident—investors are leaning on improved factory operations, more consistent server CPU demand, and some headline-making backers to keep fueling the rally.
