May 6 news, according to CNBC, chip manufacturer Intel’s stock price rose 13% on Tuesday, hitting a record high, continuing its historic rise since April. The jump came after a Bloomberg report said Apple was in talks with Intel and Samsung.
The iPhone maker has long relied on TSMC’s chips and plans to produce its device’s main processor in the United States.
Both Intel and Samsung declined to comment on the report. Apple did not respond to a request for comment.
The surge comes on the heels of Intel’s best month in its 55-year history on the Nasdaq. In April, Intel's stock price soared 114%, pushing the company's market value to more than $470 billion.
Several important partnerships drove the stock price higher. The U.S. semiconductor company announced an expanded partnership with Google.
Additionally, Intel plans to join Elon Musk’s Terafab project in April.
Intel also announced last month that it would spend $14.2 billion to repurchase the 49% stake it does not already hold in the Irish Fab 34 chip factory.
The rise of artificial intelligence has stimulated a new round of demand for Intel central processing units (CPUs). During the company's first-quarter earnings call, CEO Chen Libing called CPUs "an indispensable foundation in the era of artificial intelligence."
The surge marks a strong rebound for the chipmaker. Previously, the company had struggled to keep up with the race for artificial intelligence due to severe production delays. Its shares have risen more than 330% since the U.S. government spent $8.9 billion to acquire a 10% stake in the company last August.
Nvidia’s announcement of a $5 billion investment in September also contributed to the stock’s rebound.
Last week, U.S. President Donald Trump praised the stock’s rise.
"Intel stock continues to rise. I am very proud of this company because with this stock alone I have generated over $30 billion in revenue for the United States in the past 90 days." Trump wrote in a post on Truth Social.
“Congratulations to Intel Corporation on such a brilliant achievement, and more importantly, congratulations to the American people for making such a wise investment!”