Intel’s Meteoric 166% 2026 Rally Tests Investor Resolve After 114% April Surge

Intel shares closed at a record $99.62 on May 2 before retreating slightly, capping a historic month where the chipmaker gained 114%—outpacing the S&P 500's 10.4% return. The stock has risen 400% from its May 2025 lows, fueled by three catalytic events.

April's rally began with twin partnership announcements: Tesla's commitment as a founding partner for Intel's Terafab facility on April 9, followed immediately by Alphabet's deal to deploy Intel Xeon processors in Google Cloud. The dual news sparked a 10.5% weekly gain.

First-quarter earnings delivered the exclamation point on April 23, with revenue hitting $13.6 billion (up 7% YoY) as Intel monetizes defective chips through a controversial but profitable salvage program. Demand for AI-optimized semiconductors shows no signs of abating.