Intel Shares Hit 24-Year High on AI Partnerships

Intel Corporation's shares closed at $68.50 on Thursday, their highest level since early September 2000, capping a nine-day winning streak and positioning the semiconductor giant for its strongest monthly performance in more than 50 years. The stock, which has risen about 85 percent year to date in 2026, surged 5.5 percent that day amid investor optimism over the company's expanding role in artificial intelligence infrastructure.

The rally accelerated following several key developments. On April 7, Intel announced its participation in Elon Musk's Terafab AI chip project, collaborating with SpaceX and Tesla to leverage its 18A manufacturing process for robotics and data center applications. Days earlier, on April 9, the company revealed an AI infrastructure agreement with Google, focusing on Xeon processors and custom chips. Additionally, Intel completed a $14.2 billion transaction on April 1 to regain full control of its Fab 34 facility in Ireland from Apollo Global Management, a move executives said would strengthen its balance sheet and credit profile starting in 2027.

These announcements come as demand for server CPUs grows, driven by the shift toward agentic AI systems that...