Intel Stock Rises 20% Following Projections of AI Data Center Revenue Growth
Intel's stock surged 20% on April 24, 2026, driven by forecasts of revenue growth from AI data centers. The company, which needed a U.S. government rescue in 2025, has revived amid advanced manufacturing progress comparable to rival TSMC. Elon Musk's recent announcement boosted sentiment by pledging use of Intel's processes for his companies' semiconductors.
SemaforIntel shares jumped 20% on April 24, 2026, fueled by projected revenue surges from AI data centers, Semafor reported. S. chip giant has staged a recent revival after years of trailing rival TSMC. Its new manufacturing processes rank among the most advanced in the industry and are comparable to those of TSMC.
Intel required a government rescue in 2025, marking a low point before its turnaround. The stock received a particular boost this week when Elon Musk said his Terafab project would use Intel's new process to make semiconductors. Those semiconductors are intended for all of Elon Musk's companies, including Tesla, SpaceX, and xAI.
The statement by Elon Musk occurred this week before April 24, 2026, highlighting potential large-scale production that could position Terafab as a major facility if plans proceed as outlined.
Key Facts
Story Timeline
4 events- 2026-04-24
Intel shares jumped 20% on projected revenue surges from AI data centers.
1 sourceSemafor - 2026-04 week prior
Elon Musk stated his Terafab project would use Intel's new process for semiconductors across his companies.
1 sourceSemafor - 2025
Intel required a government rescue.
1 sourceSemafor - Recent years prior to 2026
Intel trailed rival TSMC before its revival with advanced manufacturing processes.
1 sourceSemafor
Potential Impact
- 01
Increased investor confidence in Intel's AI-related growth potential.
- 02
Heightened competition with TSMC in advanced chip manufacturing.
- 03
Broader market uplift for semiconductor stocks tied to AI data centers.
- 04
Potential acceleration of Terafab project timelines benefiting Intel's order book.
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