Intel (NASDAQ: INTC) surged in early U.S. trading on May 5, 2026, rising 11.67% and touching $107.36, a new 52-week high. As of about 10:15 a.m. Eastern Time, the stock was trading at $106.96, up $11.18 on the day. The rally pushed Intel’s market capitalization past $530 billion.
Trading volume crossed 58 million shares shortly after the open
Buying activity was heavy from the start. Within a little more than an hour after the opening bell, Intel’s trading volume had already exceeded 58 million shares. That move came right after a pullback on May 4, when the stock fell 3.85% to close at $95.78. The rebound was sharp, and it reset Intel’s 52-week range to $18.97 to $107.36.
Report on Apple foundry talks became the immediate catalyst
The day’s momentum was tied to a Bloomberg report on a possible supply-chain shift. According to the report, Apple has entered preliminary discussions with Intel about using Intel’s U.S.-based wafer fabs to manufacture chips for Apple devices. No formal order has been signed, and the talks were described as being at a very early stage.
Even so, the market treated the report as a meaningful signal for Intel Foundry Services, or IFS. The logic is tied to capacity pressure at TSMC. The report said booming AI demand, along with strong Mac sales, has tightened availability for TSMC’s advanced 3-nanometer production, leaving Apple exposed to potential supply constraints and looking at backup options.
April’s 100% gain set the stage for the latest move
Intel’s jump on May 5 did not come out of nowhere. The source material said INTC had already gained more than 100% in April. Three factors were highlighted behind that run: spillover demand from AI chips, a recent earnings report that came in ahead of Wall Street expectations, and support from the U.S. CHIPS Act, which has backed domestic semiconductor expansion with subsidies.
For traders, the Apple discussion appears to have opened a new line of upside speculation around Intel’s foundry business. In early trading, that was enough to send the stock to a fresh 52-week high and lift the company above the $530 billion mark.