What happened
Intel shares have surged 53% over nine consecutive trading sessions in April 2026, adding roughly $100 billion in market value. According to Bloomberg, it is the largest such streak since the company went public in 1971.
The stock was trading near $65 on Monday, up from around $42 at the start of the month. Intel is now the best-performing major stock in the US market this month.
Why it matters: Intel’s revival has implications beyond one company. The US government’s $8.9 billion equity stake, taken through the CHIPS and Science Act in August 2025, is now worth more than $28 billion on paper — a return that could shape the political debate around industrial policy.
What triggered the rally
Three catalysts converged in rapid succession.
On 1 April, Intel announced a $14.2 billion buyback of its Ireland Fab 34 facility, signalling confidence in its manufacturing roadmap. On 7 April, the company revealed a landmark partnership with Google to manufacture chips using Intel’s 18A process technology. Analyst upgrades followed, with several firms raising price targets on the back of the Terafab project.
The government’s bet
The Trump administration converted remaining CHIPS Act grants into equity in August 2025, acquiring a 9.9% stake in Intel for $8.9 billion. At Monday’s share price, that stake is worth more than $28 billion — a paper profit of $19 billion in less than a year.
What analysts say
Despite the rally, the analyst consensus target sits at $47.23, well below the current share price. Prediction markets give Intel a 56% chance of beating its next quarterly earnings. Some analysts warn the stock has moved ahead of fundamentals, while others say the manufacturing breakthroughs justify a re-rating.