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Intel shares surged in April after a series of company announcements revived market interest in the chipmaker. The stock has climbed sharply over the last eight sessions and added more than $100 billion in market value.
Moreover, investors also focused on Intel’s move to regain complete control of its Ireland fab, its deeper work with Google, and its role in Elon Musk’s Terafab chip project.
Intel has become one of the strongest-performing stocks in the S&P 500 during the recent market stretch. Notably, shares jumped 51% over the last eight trading sessions. This marks the company’s best run in a similar period since going public.
The rally has pushed Intel’s gains for 2026 to nearly 70%. This advance follows an 84% rise in 2025. In turn, the latest move has brought fresh attention to Intel after several years of weak performance against other large semiconductor names.
Thomas Hayes, Chairman and Managing Member of Great Hill Capital, said Intel is “clearly no longer on life support.” He also noted that the company now appears to be in “expansion mode, not survival mode.” Considered together, these remarks reflected the change in sentiment that followed Intel’s recent announcements.
A key trigger for the rally came in early April when Intel agreed to pay $14.2 billion to buy back Apollo Global Management’s stake in its Fab 34 plant in Ireland. In turn, the move returned full control of the facility to Intel. Investors viewed this step as a sign that Intel wants more direct control over its manufacturing base.
Soon after, the company announced an expanded partnership with Google. Under the agreement, Google will use future generations of Intel Xeon processors in data centers. In addition, the two companies are expanding their work on infrastructure processing units, which help handle storage, networking, and security tasks.
Intel Chief Executive Lip-Bu Tan said, “Scaling AI requires more than accelerators. It requires balanced systems.” Likewise, Google’s Amin Vahdat described CPUs and infrastructure acceleration as “a cornerstone of AI systems.” Together, those comments placed Intel more firmly in the AI and cloud buildout now shaping chip demand.
Intel shares received another boost after the company joined Musk’s Terafab project, which involves semiconductor development for Tesla, SpaceX, and xAI. However, the exact role Intel will play has not been fully detailed. Even so, the announcement added to expectations that Intel could win new manufacturing or design work tied to large AI programs.
On the same day, Intel published research tied to gallium nitride chiplets. Specifically, the company said the work involved growing GaN on standard 300mm wafers and combining GaN power electronics with silicon logic in one package. Consequently, the development has drawn interest because GaN can perform better in high-voltage and high-radiation conditions.
Meanwhile, analysts remain divided on the stock despite the strong rally. Intel trades far above the average analyst price target, and its forward valuation has risen sharply. At the same time, some analysts have raised their targets in recent days, pointing to Intel’s manufacturing assets, its improving execution, and the chance that long-term earnings could recover faster than expected.
Also Read: Intel Stock at $48: Is the Comeback Finally Real in 2026?
