Following news of possible acquisition rumors, shares of Intel Corp. rose on the Nasdaq Composite index. As investors look ahead to the Trump administration, Wall Street rose.
On Friday, January 17, shares of Intel Corp. were up more than 8% as news outlets began speculating about the chipmaker’s possible takeover.
As of 11:38 a.m. (EST), shares of Intel Corp. were up 8.21% at $21.29 from $19.67 at the last closing of the US market. According to the news agency Bloomberg, the company’s shares increased 7.6% on Friday during the early trading session.
SemiAccurate, a tech news outlet that Charlie Demerjian started and distributes weekly, said it “read an email about a company trying to acquire Intel, whole,” according to the news agency.
According to the agency report, the news outlet also said that the “mystery company,” which purportedly seeks to purchase Intel, “has the resources to pull it off.” The agency asked Intel about the news, but Intel did not immediately answer.
Intel’s Woes:
One of the most well-known chipmakers, Intel, has struggled to stay ahead of an evolving and highly competitive market in recent years. The agency study states that Intel is presently worth $85 billion and that the company’s shares have dropped 60% in the last year.
According to several media sources, Intel’s CEO, Pat Gelsinger, was compelled to resign after the board of directors lost faith in the executive’s intentions to bring the company around.
As investors anticipated several policy changes under the Trump administration, major benchmark indexes on Wall Street saw increases on Friday. According to a Reuters report, the S&P 500 and the Dow Industrial Average are expected to record their most significant weekly gains since November 2024.
The Dow Jones Industrial Average increased 0.82 percent to 43,508.16 points at 9:49 a.m. (EST) from 43,153.13 points at the last market close.
The S&P 500 increased by 0.89 percent to 5,990.17 points from the previous market closing of 5,937.34 points. At the US market open today, the Nasdaq Composite index opened at 19,588.75 points, up 1.30 percent from the prior market finish of 19,338.29 points.
