Intel Jumps 9% as CPU Price Hike, Foundry Progress Bolster Turnaround
Updated
Updated · CNBC · Sep 8
Intel Jumps 9% as CPU Price Hike, Foundry Progress Bolster Turnaround
2 articles · Updated · CNBC · Sep 8
Summary
Intel shares rose 9% Tuesday, extending a rebound above the $95 level of its recent equity offering after fresh signs strengthened confidence in the chipmaker’s recovery.
DigiTimes reported Intel is preparing to raise CPU prices in October, suggesting stronger pricing power as demand for processors used in increasingly complex AI servers stays firm.
Intel Foundry and ASML also said next-generation High NA EUV tools have already processed more than 1 million wafers in high-volume manufacturing, with Intel saying the technology is performing well on its 18A process.
Trump’s weekend comments further eased worries that the U.S. government might quickly sell its 10% Intel stake after lockup restrictions expired on Aug. 26, removing a potential overhang on the stock.
Jim Cramer added momentum by naming Intel one of his top six stocks to buy, even after shares had fallen from a roughly $140 peak in June during a broader semiconductor selloff.