Intel Stock Surges 12% on Reports of Google and NVIDIA Foundry Deals

In a move reflecting the company's ambitions to reclaim dominance in the semiconductor market, Intel shares surged 12% to reach the $111 level. This rally was driven by reports indicating that Google has ordered over 3 million Tensor Processing Units (TPUs) for 2028, alongside growing interest from NVIDIA in utilizing Intel's foundry services for advanced AI chip manufacturing. News regarding manufacturing deals with Hitachi and Corning's multiyear fiber-optic partnership with Amazon further bolstered optimism across the data center infrastructure sector.

This momentum arrives amid intensifying competition, with NVIDIA (NVDA) trading at $200.42 and Google (GOOGL) at $356.38 per market data (close June 10, 2026). Compared to manufacturing peers, investors are closely watching TSM, which closed at $408.75, and AMD at $452.40, as Intel seeks to close the technical gap by expanding foundry services for tech giants. These strategic shifts reflect a broader transformation in global supply chains toward diversifying advanced chip production within the United States.

Looking at technical levels, INTC settled at $107.04 (close June 10, 2026) after hitting an intraday high of $111.50, establishing the $111 mark as a key resistance zone. Traders should watch for official confirmations of these contracts in the coming weeks, especially as Amazon's data center expansion continues to support AMZN, currently trading at $238. While the upcoming economic calendar shows no direct catalysts for the chip sector, recent stable U.S. employment data supports continued capital expenditure in the technology space.