Intel Shares Jump 38% in April on Google AI Deal and Terafab Chip Project with Musk

Gate News message, April 17 — Intel shares have surged 38% since the beginning of April and 65% year to date, lifting the chipmaker’s market value to approximately $326 billion. The gains were driven by new AI-related partnerships and manufacturing developments.

Google will use Intel’s Xeon 6 processors for AI training and inference, and Intel has joined Terafab, an Austin-based initiative to build custom chips for Elon Musk’s companies including SpaceX, xAI, and Tesla. Earlier this month, Intel completed a $14.2 billion buyback of the remaining 49% stake in its Ireland chip manufacturing plant, Fab 34, regaining full control of the facility that produces its latest Xeon 6 server processors.

Despite the strong rally, Intel stock remains approximately 8% below its 2020 peak, while the S&P 500 has gained more than 100% over the same period.