Intel shares closed at $104.47 on Tuesday, up 9.05% on the day after the company completed a $20 billion stock offering and Nvidia disclosed a roughly $30 billion stake in the chipmaker. A separate report on possible CPU price hikes and an analyst upgrade added to the gain.
Intel closed Tuesday at $104.47, up $8.67 on the day — a 9.05% single-session gain on volume of roughly 140 million shares, more than double its recent average. The move came in two waves, each driven by a separate catalyst.
Stock sale and Nvidia's stake
Earlier in the session, Intel completed a $20 billion underwritten common stock offering priced at $95 a share, upsized from an initial $15 billion. Nvidia separately disclosed a stake in Intel valued at roughly $30 billion. Alongside these moves, reports emerged that SK Hynix is evaluating Intel's foundry for future HBM4E memory production. That combination alone was worth a few percentage points of the day's gain.
Price hikes and an upgrade
The bigger push came later in the session. DigiTimes reported Intel may raise CPU prices by as much as 10% later this year — its third such hike in 2026, after increases in the first quarter and in July — a sign the company has pricing power amid an industry-wide chip shortage. The same day, Northland Securities analyst Gus Richard upgraded the stock to Outperform with a $120 price target, citing what he called "material progress" in Intel's turnaround and its foundry ambitions. Combined, the two storylines pushed Intel to its full 9% gain.
Still below its 52-week high
Intel's climb also shows how far the stock has fallen and clawed back. The 52-week range now stretches from $24.05 to $142.35. That high sits 36% above Tuesday's close, meaning the stock remains well below where it traded a year ago. Applied Materials, meanwhile, has risen roughly 7% since the start of September on the same broader AI chip-equipment rally.
Source: Investing.com
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