Intel's stock more than doubles in April for best month in chipmaker's 55 years on Nasdaq

intel's stock surged 114% in april, its best month in 55 years on the nasdaq. the rally included a 24% jump on april 24 after a blowout earnings report, pushing the stock to a record for the first time since 2000. the chipmaker has nearly quintupled since its worst year ever in 2024, when it fell 60%. ceo lip-bu tan, hired in march after pat gelsinger was ousted, said on the earnings call that "the cpu is reinserting itself as the indispensable foundation of the ai era." demand for intel's data center cpu exceeds supply. bank of america predicts the cpu market could more than double by 2030. nvidia told cnbc in march that "cpus are becoming the bottleneck" for ai. the u.s. government took a 10% stake in intel in august, investing $8.9 billion under the chips act. that stake is now worth over $40 billion. intel announced it will join elon musk's terafab complex in austin to make chips for spacex, xai and tesla. the company also plans to repurchase a 49% stake in its ireland chip facility for $14.2 billion.