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International Business Times UK
International Business Times UK
Niloy Chakrabarti

Intel's Raging Stock Rally Lifts the US Government's 10% Stake by 50% to $16B in Weeks

Intel Corporation United States Bernstein Nvidia the Trump Administration
The Trump Administration purchased 433 million Intel common shares in August. (Credit: realdonaldtrump/Instagram)

In August, the US government invested $11.1 billion (£8.2 billion) in exchange for a 10% stake in the struggling chipmaker Intel (Nasdaq:INTC). The investment is now worth around $16 billion (£11.8 billion) after Intel's stock price surged by over 54% in the past one month.

The investment triggered the rally, which was further bolstered by Nvidia's (Nasdaq:NVDA) announcement that it would invest $5 billion (£3.7 billion) in Intel and co-develop AI chips for PCs and data centres. The rally continued on a strong footing after Intel shares surged 7% more on Wednesday amid reports claiming that the company is in early discussions with its long-time rival Advanced Micro Devices (Nasdaq:AMD). The talks revolve around Intel's manufacturing unit adding AMD as a foundry customer.

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