Intel stock surges 490% as CEO Tan pursues government deals
Original: Intel’s comeback story is even wilder than it seems
Why This Matters
Intel's 490% stock surge shows investor confidence in chipmaker revival amid U.S. semiconductor strategy
Intel CEO Lip-Bu Tan has driven the company's stock up 490% in his first year by securing deals with the U.S. government (now Intel's third-largest shareholder), partnering with Elon Musk on factories, and reportedly landing preliminary manufacturing agreements with Apple and Tesla.
Intel's dramatic turnaround under CEO Lip-Bu Tan, who took over in March 2025, has resulted in a stunning 490% stock surge despite ongoing operational challenges. Tan has focused heavily on relationship-building, securing a deal that made the U.S. government Intel's third-largest shareholder and establishing a factory partnership with Elon Musk. Bloomberg reports preliminary manufacturing agreements with both Apple and Tesla. However, fundamental issues persist - Intel's chip yields still lag behind industry leader TSMC, and employees report Tan has been light on internal specifics, with some teams adjusting missed deadlines rather than addressing core problems. Wall Street's massive bet on Intel's turnaround may be running ahead of actual operational improvements.