Intel Shares Jump on Report It’s an Acquisition Target

On January 17, 2025By Littum

(Bloomberg) — Intel Corp. shares rose 7.6% Friday morning after a report on a technology news site said the beleaguered chipmaker is a takeover target.

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SemiAccurate, a tech-focused newsletter founded by Charlie Demerjian, said it had “read an email about a company trying to acquire Intel, in its entirety.”

Once the world’s dominant chip maker, Intel has struggled in recent years to keep up in a competitive and rapidly changing industry. Last month, CEO Pat Gelsinger was forced out after the board lost confidence in his plans to turn around the iconic company. Its shares fell 60% last year, valuing the company at about $85 billion now.

SemiAccurate said that “the mystery company has the resources to pull it off.”

Intel could not immediately be reached for comment.