Intel Shares Rise Amid Demand for AI Infrastructure
Shares reached $62.50 following a strong report from its partner CoreWeave
Intel shares rose by 7.52% at the close of trading, reaching $62.50. The stock was supported by a broader increase in chip manufacturers amid a more positive investor outlook on demand for AI infrastructure.
The sector received a boost from CoreWeave’s third-quarter results, published on November 10. The company’s revenue amounted to $3.7 billion—more than double the $1.4 billion reported a year earlier. CoreWeave also raised its full-year forecast.
Against this backdrop, investors resumed buying semiconductor stocks following a sell-off triggered by last week’s U.S. elections. The shift of congressional control to the Democratic Party raised concerns that the new leadership might tighten AI regulations and halt the construction of data centers.
For Intel, this marked a reversal after a decline in shares following its quarterly results. The company provided a weak forecast for the fourth quarter due to a weakening PC market—one of its key segments. The expected downturn in the sector is attributed to component shortages and sharp price increases driven by demand for AI infrastructure. This prompted Wall Street to reassess expectations for Intel’s recovery.
