Why Intel Stock Is Gaining Today

By Keith Noonan – Apr 23, 2026 at 7:12PM ESTKey PointsIntel gained ground thanks to news that Tesla plans to use the company's chip fabs. Intel also posted better-than-expected Q1 results after the market closed. Intel (INTC +2.10%) stock closed out Thursday's trading solidly in the green despite bearish momentum for the broader market. The company's share price ended the day up 2.3% and had been up as much 4.6% earlier in trading. Meanwhile, the S&P 500 closed out the day down 0.5%, and the Nasdaq Composite was down 0.9%. Even though the broader market was hit with bearish pressures today connected to valuation concerns in the tech sector, Intel managed to post solid gains thanks to news that Tesla could be using one of the company's next-generation chip fabrication processes. Image source: Getty Images. Intel rises on Tesla news Tesla published its first-quarter results and hosted an investor conference call after the market closed yesterday, and comments from CEO Elon Musk suggested that his company is poised to utilize Intel's chip fabrication technologies. Based on Musk's comments, Tesla will be the first major third-party customer for Intel's 14A chip-manufacturing process. Tesla expects to spend roughly $3 billion with Intel -- a development that bodes well for the semiconductor player. ExpandNASDAQ: INTCIntelToday's Change(2.10%) $1.37Current Price$66.64Key Data PointsMarket Cap$328BDay's Range$65.70 - $68.2752wk Range$18.96 - $70.33Volume5MAvg Vol102MGross Margin35.24% Intel's Q1 results look promising Intel also published its first-quarter results after the market closed today and posted strong results. Intel recorded non-GAAP (adjusted) earnings per share of $0.29 on sales of $13.58 billion in the period in the first quarter. Meanwhile, the average analyst estimate had called for adjusted per-share earnings of $0.28 on sales of $12.43 billion. Intel's revenue grew 6.9% year over year and absolutely crushed the average analyst estimate. With that big sales beat and news of the Tesla partnership, the company's future is looking up. Read NextApr 23, 2026 •By Motley Fool TranscribingIntel (INTC) Q1 2026 Earnings TranscriptApr 22, 2026 •By Catie Hogan1 Big Reason Analysts are Divided on IntelApr 22, 2026 •By Motley Fool TranscribingIntel (INTC) Q3 2024 Earnings TranscriptApr 20, 2026 •By Parkev Tatevosian, CFAShould You Buy Intel Stock Before the Huge Investor Update?Apr 20, 2026 •By Daniel SparksHere Are 2 Chip Stocks Reporting Earnings This Week That You Won't Want to MissApr 20, 2026 •By Scott LevineCan You Invest in Cerebras Pre-IPO? Details & Alternatives to ConsiderAbout the AuthorKeith Noonan is a contributing writer at The Motley Fool covering technology, consumer goods, and other sectors. He holds a bachelor’s degree in English from Boston College.TMFNoonsStocks MentionedIntelNASDAQ: INTC$66.64(+2.10%)+$1.37TeslaNASDAQ: TSLA$373.72(-3.56%)-$13.79*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.