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Intel Stock Jumps as VP Vance Says AI Chips Will Be Made in US
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Key Points
- Intel stock soared Tuesday after Vice President JD Vance said the Trump administration would take steps to ensure AI chips are designed and manufactured domestically.
- Government efforts could benefit Intel’s troubled Foundry, which makes bargaining chips for third parties in the United States.
- Even with Tuesday’s earnings, Intel’s stock lost more than half of its value in the past 12 months.
Intel(INTC) Stocks soared in Tuesday’s date trading, yes S&P 500 Vice President JD Vance says Trump administration hopes AI Chips are produced domestically.
“To protect the U.S.’s advantage, the Trump administration will ensure that the most powerful AI systems are built in the U.S., built from chips designed and manufactured in the U.S.,” Vance said on AI Action Summit on Tuesday.
Policies that favor U.S. chipmakers could benefit Intel’s troubled casting business, which makes chips for third parties in the United States. this Foundry Losing $13.4 billion in 2024 has been Sales guess In recent months.
Intel shares rose nearly 7% to around $21 after Vance’s speech, but even with Tuesday’s earnings, the stock lost more than half of its value in the past 12 months.
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