- Intel shares surged 14% to an all-time high amid talks with Apple to supply main processors
- Apple is also negotiating with Samsung to manufacture processors for its devices
- Intel’s stock gained 180% in 2026, boosted by orders from Google, Microsoft, and Amazon
Shares of Intel Corp. rallied 14% reaching an all-time high on Tuesday, after the news broke of its exploratory talks with Apple about having the manufacture the main processors for the latter's devices. Apple also held talks with Samsung Electronics for the same.
The company's share price went up by $13.06, or 13.64%, to $108.84, reaching a new 52-week high of $110.48, while opening at 100.50. Intel also saw a 114% rise in its stock in April 30, with the company fielding orders for its flagship product, the CPU from IT giants such as Google, Microsoft and Amazon.
The firm's stock had gained over 180% in 2026, adding more than $340 billion to its market valuation, as per Bloomberg.
The company's new CPU architecture,which consumes less power and runs with notably more cooling, has become a popular choice for companies building AI-powered infrastructure and gadgets. The company's deals with Google for custom chip development and with Elon Musk's Terafab data centre project also spurred the rise in its stock price.
The tech-heavy Nasdaq Composite index also gained by 1%, reaching a new intraday high.
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According to Bloomberg, the large scale develpment of data-centres has lead to supply chain issues for Apple. The company works with Taiwan-based TSMC to create the main processors for its flagship devices, such as the iPhone and the iPad.
The surged in demand for Mac laptops to run AI models locally was also a contributing factor to the Silicon Valley giant's supply chain problems.
The firm is likely looking at Intel and Samsung as its "backup suppliers". Intel has previously designed and supplied Apple with processors for its Mac device from 2000-2020, after which the latter decided to do the same in-house. If Intel bags the deal, it would help expand its current plans to act as a major supplier to IT giants to fuel its comeback.
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