Here’s Why Intel Shares Surged More Than 11% on Monday

Intel Corporation (INTC) shares jumped over 11% on Monday, June 8, 2026, closing at $110.27 — a gain of more than $11 per share — after a report from technology news outlet The Information landed before the opening bell.

The headline: Google has placed an order to manufacture more than 3 million Tensor Processing Units (TPUs) at Intel’s foundry for 2028 production, citing four people with direct knowledge of the discussions. TPUs are the custom AI accelerator chips Google uses to power its AI workloads, and routing that order to Intel — rather than to dominant industry player TSMC — represents a striking vote of confidence in Intel’s manufacturing capabilities.

The same report contained a second catalyst: Nvidia is evaluating Intel’s advanced 18A process node for a future multi-chip processor design. Nvidia has not placed an order yet, but the mere fact that it is seriously testing Intel’s technology gave investors an additional reason to buy.

Together, the two revelations validate Intel’s long-running and often doubted strategy to rebuild its foundry business under CEO Lip-Bu Tan. Intel spent years losing ground to TSMC in chip manufacturing, and its stock fell roughly 60% between 2020 and 2024. Monday’s news suggests that two of the most powerful chip buyers in the world are now treating Intel as a credible alternative supplier.

Intel’s rally helped lift the entire semiconductor sector, with the iShares Semiconductor ETF (SOXX) rising around 6% on the day as investors reversed Friday’s sharp chip-sector selloff.

Intel’s stock has now surged more than 400% over the past twelve months, as its U.S.-based manufacturing footprint and CHIPS Act funding continue to attract growing interest from major technology customers.

Intel closed at $110.27 on June 8, 2026, up 11.2%.