Google and Nvidia are reportedly considering Intel as a secondary chip supplier for manufacturing and design.
Intel's stock rebounded on Monday as investors rotated back into AI-linked chip names following last week's semiconductor selloff. According to The Information, Google has placed an order with Intel for more than 3 million AI chips in 2028, while NVIDIA is evaluating Intel's advanced packaging and 18A process. Intel traded over 9% higher as the broader semiconductor sector and technology names recovered, with the rebound helping lift both the Nasdaq and S&P 500.
However, Intel faces mounting competitive pressure from NVIDIA in the PC processor market. Bloomberg tech editor Vlad Savov noted that NVIDIA RTX Spark raises a threat to Intel by combining a GPU with a CPU, pushing NVIDIA directly into Intel's long-dominant PC processor market. Bloomberg semiconductor reporter Ian King said NVIDIA looks more credible this time because its stronger revenue base, high margins, and PC graphics history give it a better shot than past attempts to enter PCs. King added that Intel still needs to prove its products and factory strategy can attract major customers as NVIDIA expands in AI PCs and data-center infrastructure.
From a technical standpoint, Intel's longer-term trend remains pointed higher, though the near-term tape is choppy. The stock is trading 10.8% below its 20-day SMA ($115.90) while staying 16.5% above its 50-day SMA ($88.76), a pattern that often signals a bigger uptrend intact with shorter-term consolidation. This follows a 384.23% surge over the past 12 months. The moving averages still lean bullish, including the golden cross established in August 2025 when the 50-day SMA moved above the 200-day SMA, and price remains 101.7% above the 200-day SMA ($51.27). The risk is that continued weakness could pin the stock under the 20-day area, capping rebounds and extending consolidation.
Looking ahead, the next major catalyst for the stock arrives with the July 23, 2026 estimated earnings report. Intel shares were up 9.78% at $108.87 at the time of publication on Monday, according to Benzinga Pro data.