Al Root

To say Intel stock is on a tear is a wild understatement. Shares are up again on Wednesday, and potential improvement in the money-losing foundry business is helping.

Intel stock was up 10% at $93.02 in midday trading, while the S&P 500 and Dow Jones Industrial Average were down 0.2% and 0.7%, respectively.

Shares traded as high as $94.10, a new all-time and 52-week high. Intel stock is now up about 136% year to date and up more than 350% over the past 12 months.

A few things have sent shares soaring. The stock started from a low point with investors unsure whether the new CEO, Lip-Bu Tan, could turn things around. He is doing well, helping investor sentiment.

Sales growth has accelerated, and profit margins are improving, which has helped too. Earnings per share estimates for 2027 are at about $1.50, up about 50% over the past few months.

What's happening on Wednesday is more of a mystery. Wccftech reported that Alphabet will use Intel's EMIB technology for its next-generation TPU chip.

TPUs are tensor processing units that work in concert with Nvidia chips in AI computing. EMIB stands for Embedded Multi-die Interconnect Bridge, which concerns how chips are packaged together.

Semiconductors and semiconductor manufacturing are complicated, but it is good news. The market certainly thinks so.

EMIB is part of Intel's foundry chip-making business. It loses money right now. New customers can help turn that around.

Write to Al Root at allen.root@dowjones.com

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April 29, 2026 12:57 ET (16:57 GMT)

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