Stock Market Today, June 8: Intel Surges on Reported Google AI Chip Foundry Order
The rally gives Intel a foundry boost, with investors watching the reported Google demand and proof that 18A can scale into real revenue.
Stock Market Today, June 8: Intel Surges on Reported Google AI Chip Foundry Order
Overview
Intel (NASDAQ:INTC), which designs and manufactures semiconductor products, including CPUs and GPUs, closed Monday at $110.27, up 11.19%. The stock moved higher as reports highlighted a major Google AI chip order and potential foundry roles with Google and Nvidia. Investors are watching how these opportunities translate into sustained AI data center and foundry revenue growth.
The company’s trading volume reached 135.1 million shares, which is nearly 9.1% above compared with its three-month average of 123.8 million shares. Intel went pu in 1980 and has grown 33775% since going its IPO.
Details
The S&P 500 (SNPINDEX:^GSPC) added 0.30% to finish Monday at 7,405.73, while the Nasdaq Composite (NASDAQINDEX:^IXIC) climbed 0.86% to close at 25,929.66. Among semiconductors, Advanced Micro Devices (NASDAQ:AMD) closed at $490.33, up 5.14%, while Nvidia (NASDAQ:NVDA) finished at $208.64, gaining 1.73% as investors reassessed AI chip demand.
Source
Originally published at www.fool.com.
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