Intel Stock Price Jumps 6% As Nvidia, Broadcom Test Tech for AI Chip-Making
- Intel stock rose nearly 6% on Monday on a report Nvidia and Broadcom could use the firm’s tech.
- Reuters reported that the two chip giants are running manufacturing tests at Intel’s foundry.
- The move would be an important endorsement for the embattled hardware firm.
The move: Intel rose 6% to $25.18 per share on Monday morning. The jump puts the stock on track to recoup losses after a drop of about 4.5% last week.
The chart:
Why: Sources told Reuters that Nvidia and Broadcom, two leading chipmakers, are running manufacturing tests with Intel. If successful, this could be the hardware company’s first step to unlocking lucrative manufacturing deals with two firms at the heart of the artificial intelligence…
