Intel stock has been on an incredible run and the gains just keep on coming.

The shares have surged 50% over the past seven trading days, closing near a five-year high on Thursday.

The chip company’s stellar streak was under threat early Thursday until it announced a multiyear collaboration with Google to advance the next generation of artificial intelligence and cloud infrastructure. Essentially, the Alphabet owner will keep using Intel’s chips.

The stock rose 4.7% to $61.72, its highest close since April 22, 2021, according to Dow Jones Market Data. At seven consecutive days of gains, it marked its longest winning streak since September 2023.

Even when the streak ends investors won’t be too upset—the stock is up more than 180% over the past 12 months.

Peace hopes have certainly helped Intel shares, which surged 11.4% Wednesday to their highest close since April 23, 2021. But they’ve also been boosted by company-specific factors. Intel announced it was joining Tesla and SpaceX’s Terafab project—Elon Musk’s semiconductor production plan, which he has described as the “most epic chip building exercise in history.”

“Our ability to design, fabricate, and package ultra-high-performance chips at scale will help accelerate Terafab’s aim to produce 1 terawatt per year of compute to power future advances in AI and robotics,” Intel said in a statement.

The company agreed to buy back full control of its chip factory in Ireland last week, by repurchasing Apollo Global Management’s stake in the venture. The stock jumped 9% that day—the second day of the winning streak.