One of the oldest technology companies is once again showing strong appeal to investors. Intel’s (INTC) stock price has experienced extreme ups and downs over the past decade. The company went public in 1971, surged dramatically during the dot-com bubble of the 1990s, then saw its stock price plummet and consolidate sideways for ten years. In recent years, Intel has struggled, with its stock price falling two-thirds from early 2021 to early 2025. Investors once viewed this chipmaker as an outdated company, believing Intel had fallen behind in an era when Nvidia (NVDA) and Broadcom (AVGO) have become industry leaders. But that situation may be changing.
Recently, Intel has shown strong momentum. Starting March 31, its stock price rose for nine consecutive trading sessions, increasing its market value by over $100 million, and it is up 76% so far in 2026. This rally is driven by positive news, suggesting the company may have successfully achieved a remarkable turnaround. This month, Intel signed on to participate in the Terafab project, a collaboration to build a chip manufacturing facility for Elon Musk’s Tesla (TSLA), SpaceX, and xAI, signaling to investors that Intel is once again relevant and ready to compete with newer entrants in the semiconductor industry. Intel also announced a new partnership with Google’s parent company, Alphabet (GOOG), which has committed to using Intel’s CPU chips in its data centers. On April 1, Intel said it would buy back the 49% stake in its Irish factory held by investment firm Apollo, marking another sign that the company’s financial situation is stabilizing again.
Proof of actual financial strength will come when Intel releases its latest performance results on Thursday, April 23. Investors will closely scrutinize that report to see whether all the positive news is translating into positive momentum in revenue and profit. Due to the recent stock price increase, Intel currently trades at 122 times forward earnings, compared to Nvidia’s multiple of approximately 23. Therefore, despite the many positive developments in recent weeks, prudent investors may still choose to wait for the latest performance results.
As of local time on April 16, Intel rose more than 4% to $67.71. The company’s CEO, Lip-Bu Tan, sent an internal memo to employees last week, promising to disclose the scope and nature of Intel’s participation in the Terafab project within weeks. The project’s near-term goal is to establish a pilot production line in Austin, Texas, with plans to start wafer manufacturing in 2029 and an initial monthly capacity of 3,000 wafers. The ultimate vision of the project is to achieve an annual supply of 1 terawatt of computing power, directly challenging TSMC’s dominance in advanced process nodes.
