Intel stock on track for historic 9-day winning streak, up 56%

Intel was on track for a ninth-straight day of gains on Monday, up about 56% over that stretch and on track for its best run over that many days since at least the 1970s.

The stock’s last winning nine-day run was in September 2023, and the last streak longer than that, a 13-day series of gains, happened in May 2005.

Several big deals and announcements from the U.S. chipmaker have fueled the run, including partnerships with Google and Elon Musk‘s Terafab project.

Last week, Intel announced an expansion of its partnership with Google. Google will use Intel’s newest Xeon 6 central processing units to run artificial intelligence training and inference workloads, according to the announcement.

Intel also announced it will be joining Elon Musk’s Terafab project last week.

Plans for Terafab, an advanced AI chip complex in Austin, Texas, were announced by Musk last month. The complex will design and manufacture custom chips for SpaceX, xAI and Tesla, according to Musk.

On Tuesday, Intel posted a photo of CEO Lip-Bu Tan and Musk together.

“Our ability to design, fabricate, and package ultra-high-performance chips at scale will help accelerate Terafab’s aim to produce 1 TW/year of compute to power future advances in AI and robotics,” the company wrote.

The chipmaker also repurchased the remaining shares of its Ireland chip fab earlier this month. The $14.2 billion purchase showed renewed strength compared to its balance sheet when it sold the 49% share in 2024.

Intel and Advanced Micro Devices lead the CPU industry. Last month, Dion Harris, head of AI infrastructure at Nvidia told CNBC that CPUs are “becoming the bottleneck” for AI and agentic workflow.

Unlike AMD and Nvidia, which outsource their silicon manufacturing, Intel designs and manufactures its own chips.

In August, the U.S. government bought a 10% stake in Intel, as the only company that can make advanced chips domestically. One month later, Nvidia announced a $5 billion investment and technology collaboration with the company.

Nvidia CEO Jensen Huang called the deal “an incredible investment.”