Intel Shares Surge 9.5% on SemiAccurate Report of Potential Acquisition by Mystery Company

Jan 17, 2025, 02:24 PM

Intel Corp.'s shares surged as much as 9.5% on Friday morning following a report by technology news site SemiAccurate that the company is a target for acquisition. The report, authored by Charlie Demerjian, cited an email and multiple high-level confirmations, mentioning that a 'mystery company' with sufficient resources is considering an acquisition attempt of Intel in its entirety. Intel, once the world's dominant chipmaker, has faced challenges in recent years amid a competitive and rapidly evolving industry. The company's market valuation is currently around $90 billion, following a 60% drop in its share price last year. The report comes after Intel's CEO Pat Gelsinger was forced to resign last month due to the board's loss of confidence in his turnaround plans for the company. Shares of Intel spiked as much as 8% following the SemiAccurate report.