Intel Shares Surge Following New Chip Release Amid Market Optimism

Santa Clara, California — Shares of Intel Corporation jumped 3.95% to $19.86 as of 11:55 AM ET on Monday, outperforming the broader market. This rise follows the praise for its latest chip, the Core Ultra 9 275HX, which has been highlighted for its superior performance and battery efficiency.

Industry reviewers such as PCWorld and TomsHardware have commended the Core Ultra 9 275HX, while Notebook Check dubbed it the fastest chip currently available, eclipsing AMD‘s Ryzen 9 7945HX3D in the PassMark benchmark tests.

Intel’s gains come after a positive report of its fourth-quarter earnings released last month, which exceeded expectations and showcased the effectiveness of its restructuring efforts aimed for 2024. However, analysts remain cautiously optimistic, awaiting clearer signals of sustained recovery.

In addition to the chip performance, AMD shares experienced a modest increase of 2.9% in late morning trading, indicating a generally buoyant atmosphere in technology stocks.

Looking ahead, Intel plans to hold its Foundry Direct Connect event on April 29, where executives will outline its chipmaking strategy and technological advancements. This comes at a time when Intel is in the search for a new CEO following the unexpected departure of Pat Gelsinger. Current co-CEOs David Zinsner and Michelle Johnston Holthaus are temporarily at the helm.