Why Intel Stock Gained Today

Shares of Intel (NASDAQ: INTC) gained in Monday’s trading. The company’s share price closed out the day up 3.1%, according to data from S&P Global Market Intelligence.

While there wasn’t any business-specific developments affecting Intel today, the stock did get a boost from news that another U.S. semiconductor company was receiving some significant government subsidies. Texas Instruments published a press release announcing that it would receive $1.6 billion in new funding through the CHIPS Act to develop semiconductor plants in Texas and Utah.

The company also said that it anticipates receiving between $6 billion and $8 billion in tax credits.

Continue reading