NEW YORK — Intel (INTC) surged 13.8 percent Friday, closing at $45.60 and marking its fourth consecutive intraday record high. The move capped a strong week for the semiconductor giant, which has climbed over 20 percent in the past month as investors reassess Intel's strategic shift toward artificial intelligence and foundry services.
The rally reflects growing market confidence in Intel's Gaudi AI accelerator chips, which compete directly with Nvidia's offerings in the data center segment. Intel CEO Pat Gelsinger has pushed the company to reclaim leadership in chip manufacturing through Intel Foundry, which aims to serve external clients and challenge Taiwan Semiconductor Manufacturing Co. (TSMC). Industry sources report increasing customer engagement for Intel's advanced 18A process technology for next-generation AI and high-performance computing chips.
Intel's gains came during broad tech sector strength. The Nasdaq Composite advanced 1.7 percent to 26,247, and the S&P 500 rose 0.8 percent to 7,399. Other chipmakers also gained: Nvidia (NVDA) climbed 1.8 percent to $215.22, and Apple (AAPL) gained two percent to $293.26.
