In April 2025, Intel was trading at $18. Fourteen months later it hit an all-time high. The turnaround was not built by Intel alone.

TL;DR

Intel hit an all-time high after Apple began foundry talks, extending a 330 per cent rally since the US government took a 10 per cent stake. The turnaround was driven less by Intel’s manufacturing and more by geopolitical pressure to build chips on American soil.

In April 2025, Intel’s stock was trading at 18 dollars. The company had fired its CEO three months earlier, lost the AI chip race to Nvidia so completely that analysts had stopped including it in competitive comparisons, and was being discussed in the financial press primarily as an acquisition target or a candidate for dismemberment. Fourteen months later, on Tuesday, Intel hit an all-time high after Bloomberg reported that Apple is in preliminary talks to use Intel’s foundry to manufacture chips for its American devices. The stock climbed 14 per cent in a single session, extending a run that has now returned 175 per...

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