Intel (INTC) shares are extending gains on Thursday morning following reports the chipmaker has approached Apple (AAPL) for a strategic investment. The market is reading the news as part of INTC’s broader commitment to regain relevance in the global semiconductor industry.

Intel stock surged after reports of early talks between Apple and Intel for a potential investment. Nvidia and SoftBank have already shown interest in Intel.

Intel's stock has now regained levels not seen since July 2024, after a long winter in which its future came into doubt and the stock price fell below the company's book value. However, it appears Tan's capital raise from prominent fabless chipmakers is boosting confidence in Intel's strategy and technology, despite their dilutive effects.

Intel shares surged on reports that it is seeking more investments. The money-losing chipmaker has approached Apple and TSMC about potential investments or partnerships, after having raised mone