Business · CNBC Technology
Intel's stock has best day since 1987, soaring 24% as chipmaker shows signs of a turnaround
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Intel shares soared 24% on Friday, their best performance since October 1987, as investors cheered signs of renewed growth due to mounting artificial intelligence demand.
Key facts
- First-quarter revenue topped estimates and rose 7.2% to $13.58 billion from $12.67 billion a year earlier
- The stock closed at $82.57 and is now up 124% this year after jumping 84% in 2025
- Revenue jumped 22% from a year earlier to $5.1 billion, as AI fuels renewed demand for central processing units
- The rally on Wall Street marks a stark turnaround for the U.S. chipmaker, which lost 60% of its value in 2024, leading to the ouster of Pat Gelsinger as CEO in December of that year
Summary
The stock closed at $82.57 and is now up 124% this year after jumping 84% in 2025. CEO Lip-Bu Tan, who took the helm early last year, has revived Wall Street interest in the struggling chipmaker by reeling in investments from the Trump administration and Nvidia, and by helping the company elbow its way into the AI boom, where it had previously been largely shut out. "INTC's new CEO fixed the balance sheet, and is executing on a strategy that appears to have put INTC back on the competitive track," analysts at Evercore ISI wrote in a report after earnings, upgrading the shares to the equivalent of a buy rating. First-quarter revenue topped estimates and rose 7.2% to $13.58 billion from $12.67 billion a year earlier.