Intel Is Supposed to Be in a New CPU Era But Its Losing Market Share to AMD and Arm

After years of frustrating investors and slipping further behind in the artificial intelligence (AI) race, Intel Corporation (INTC) is suddenly emerging as one of the stock market’s most remarkable turnaround stories. The legendary chipmaker spent much of the past few years battling manufacturing setbacks, strategic execution issues, and intensifying competition from AI powerhouses like Nvidia (NVDA) and Advanced Micro Devices (AMD). Conditions deteriorated so badly that Intel was forced to slash its dividend in 2023 before suspending it altogether in 2024, while the stock sank deeper and billions of dollars in market value vanished. 

But in 2026, the narrative surrounding Intel has changed dramatically. Over the past year, Intel shares have delivered a stunning triple-digit rally as the company rolled out aggressive cost-cutting measures, broad restructuring plans, leadership changes, and an ambitious expansion of its foundry business, all of which helped revive investor confidence. The comeback story gained even more momentum after the U.S. government acquired nearly a 10% stake in Intel last year, reinforcing the company’s strategic importance to the global semiconductor supply chain and strengthening its position as a critical national technology asset.