Intel Stock Soars 9% as CoreWeave Earnings Ignite Chip Rally, Pulling Shares Off Brutal Post-Guidance Lows

Intel Corp. shares jumped more than 9% on Wednesday. Investors poured back into semiconductor stocks after strong results from AI cloud provider CoreWeave revived the artificial intelligence infrastructure trade.

Intel stock traded at $63.39 at 1:26 p.m. EST, up $5.26, or 9.05%, from Tuesday's close of $58.13. The stock rose through the morning session and briefly topped $63.80 before easing slightly.

The rally appeared to be driven by the whole sector rather than by Intel's own news. Chipmakers from Marvell Technology to Taiwan Semiconductor Manufacturing Co. moved higher, and Advanced Micro Devices and Nvidia also posted strong gains.

CoreWeave sparks the rebound

The catalyst came late Tuesday, when CoreWeave reported third-quarter results that beat Wall Street forecasts. The company reported revenue of $3.66 billion and raised its full-year 2026 revenue forecast to between $13.0 billion and $13.3 billion, according to The Motley Fool. CoreWeave also said it plans capital investment of $37 billion to $39 billion. That figure topped expectations and suggested continued heavy spending on chips and data center equipment.

CoreWeave shares surged more than 25% on Wednesday.

The results eased investor fears that spending on AI infrastructure was slowing. Chip stocks had lost nearly 30% in five weeks before the latest rebound, according to market data.

Oversold after guidance shock

Intel came into Wednesday's session deeply oversold. The stock fell 28.6% on Oct. 30 after the company issued a weak fourth-quarter outlook. It was Intel's steepest one-day decline since 1974.

Intel projected fourth-quarter revenue of $15 billion to $16 billion, below the $16.5 billion it reported for the third quarter. Analysts had expected about $17.07 billion. The company also forecast adjusted earnings of 25 cents per share, compared with analyst expectations of 43 cents.

Intel's relative strength index stood near 28 heading into Wednesday, a level traders generally view as oversold.

Even after Wednesday's gain, Intel shares remain far below their 52-week high of $142.35, set on June 30.

CEO bought the dip

Intel Chief Executive Lip-Bu Tan bought 150,000 Intel shares on Nov. 2 through his family trust, according to a Form 4 filed with the Securities and Exchange Commission. The purchase was worth about $9.7 million at a weighted average price of about $64.73 a share.

The purchase came on the first trading day after Intel's record plunge. It raised the trust's holdings to 1,464,669 shares.

It was Tan's second large purchase in less than three months. In August, he bought 105,263 shares at $95 each in a company stock offering. Both purchases remain below their cost at current prices.

Analysts remain cautious

Wall Street remains divided on Intel. The stock carries a consensus Hold rating, with an average analyst price target of about $96, according to Benzinga data.

Freedom Broker recently downgraded Intel to Hold and cut its price target to $90.

Technical analysts said Intel faces key resistance levels after its rebound. The stock remains well below its 20-day, 50-day and 200-day moving averages.

Intel also showcased its agentic and physical AI applications at Web Summit 2026 in Lisbon, which runs through Nov. 12.

Broader market rallies

Wall Street's technology-heavy Nasdaq Composite rose more than 2% in Wednesday trading. Technology led all 11 sectors of the S&P 500.

Wednesday is Veterans Day. The U.S. bond market is closed, but stock markets are open for normal trading.

This article is for informational purposes only and does not constitute investment advice.