Intel soared over 10% intraday, surpassing a $600 billion market value

BlockBeats News, May 20th, according to Bitget market data, Intel (INTC.O) surged over 10% intraday, with the stock price reaching $121.9, and the market cap surpassing $600 billion.

Recently, Trump expressed regret that the U.S. government's stake in Intel was too small when he represented it. In August last year, the Trump administration announced the transformation of around $8.9 billion in subsidies from the "Chip Act" into equity (purchasing about 433 million shares at $20.47 per share), obtaining a 9.9% stake in Intel. Just 8 months later, the value of this stake has soared to over $500 billion, with an unrealized gain of over $41 billion. Behind this windfall is the result of the U.S. government's direct intervention to boost performance. Apple has reached a preliminary agreement with Intel for the latter to manufacture chips on its behalf, breaking TSMC's long-term monopoly. As a significant shareholder of Intel, U.S. Commerce Secretary Howard Letnick has met with Cook multiple times over the past year, vigorously persuading Apple to divert orders to Intel. Due to the soaring demand for AI chips from giants like Nvidia severely squeezing TSMC's production capacity, Apple, plagued by chip shortages, has finally relented.