Tech giant Intel Corp (NASDAQ: INTC) has staged one of the most dramatic turnarounds in the market over the past couple of quarters. With the stock having been at multi-year lows this time last year, almost becoming a byword for disappointment in the process, Intel shares are suddenly on the verge of a five-year high, up more than 220% since last August.
They’ve been accelerating their gains in recent weeks and days, adding 50% gain since the end of March alone.
The latest leg higher has been driven by fresh news this week that Intel is joining Elon Musk’s Terafab AI chip production project alongside his Tesla Inc (NASDAQ: TSLA), SpaceX, and xAI companies. That development has injected a new level of excitement into the story, placing Intel at the center of one of the most ambitious artificial intelligence (AI) infrastructure initiatives currently under construction.
