Intel Surges 14% as Semiconductor Rally Lifts Nasdaq 100 to 3-Month High

Key Facts

1Intel shares surged nearly 14% driven by optimism regarding a potential foundry deal with SK Hynix.

2The Nasdaq 100 reached a three-month high led by the semiconductor sector.

3WTI crude oil prices slid more than 5% to hit an 11-day low.

Amid a significant recovery in the semiconductor sector, Intel shares surged nearly 14% driven by investor optimism regarding a potential foundry deal with SK Hynix. According to reports, this rally helped propel the Nasdaq 100 to a three-month high, reflecting growing confidence in technology growth stocks. Simultaneously, energy markets saw WTI crude oil prices slide more than 5%, hitting an 11-day low and providing a macro tailwind for the sector.

Regarding related instrument performance, market data shows varying price levels; SKHY closed at 187.915 (close September 21, 2026), while NDAQ stood at 93.54 (close September 18, 2026). This movement in the chip sector serves as a primary driver for major tech indices, benefiting from falling energy costs which supported growth equities despite the Intel/SK Hynix news being a continuation of an ongoing narrative.

Looking at current technical levels, INTC closed at 108.6 (close September 18, 2026) after reaching a daily high of 110.49. Traders are now watching for the sustainability of this momentum given the absence of major upcoming economic catalysts in the immediate calendar, with a focus on whether stabilizing oil prices will continue to support risk appetite in US equity markets.