Quick overview

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Intel’s stock earlier collapsed to   $120 per share. The initial drop-off was triggered by Goldman Sachs launching coverage on Intel with a “Neutral” rating.

While Goldman analyst James Schneider acknowledged that Intel is a primary beneficiary of the broader AI buildout, the firm explicitly stated that they prefer AMD, Nvidia, and Broadcom for immediate growth. The note triggered immediate profit-taking from shorter-term traders who had ridden Intel’s massive recent rally.

Remarkably, institutional buyers stepped in to buy the dip, pulling Intel back up to close at $132.87. The underlying resilience points to huge structural momentum: Intel shares have more than doubled in just three weeks and are up an eye-popping 240%+ so far in 2026.

Intel has transitioned from a beaten-down legacy chipmaker into a primary AI foundry story. Wall Street has aggressively re-priced the stock due to two massive fundamental catalysts that surfaced this month:

Google confirmed a massive order for Intel Foundry to manufacture more than 3 million custom Tensor Processing Units (TPUs) for 2028. It is one of the largest single commercial volume orders Intel Foundry has ever secured.

 indicating a developing manufacturing partnership with Apple (AAPL) to leverage Intel’s cutting-edge 18A process node has poured fuel on the rally, validating Intel’s capability to compete directly with TSMC.

: Intel’s ability to shake off a cautious Goldman Sachs note and finish positive on massive volume confirms that institutional backing for its turnaround story remains incredibly strong. However, with its market cap swelling past $660 billion, the pressure is on for Intel to validate these AI foundry wins in its upcoming Q2 earnings report on July 2