Intel Shares Rise 15% After Report Google, Nvidia Considering It as Backup Chip Supplier

Intel shares climbed 15 percent after The Information reported that Google and Nvidia are considering the company as a backup chip manufacturer. The report, published on June 8, stated that both technology firms are evaluating Intel for additional production capacity. Multiple financial news accounts, including @DeItaone, @LiveSquawk, @WatcherGuru, and @Investingcom, relayed the same information.

The Information said Google and Nvidia are assessing Intel alongside their existing suppliers. The disclosure did not include details on timelines or contract values. Intel manufactures semiconductors at facilities in the United States, Israel, and other locations.

The company has sought to expand external customer orders in recent years. The stock movement occurred during regular trading hours on the day the report appeared.