Intel just had the kind of day that makes bag holders exhale. Shares of the chipmaker climbed approximately 8.5% in early June, powered by a reported contract with Alphabet to manufacture 3 million custom chips. The move was part of a wider semiconductor rally that pulled the entire sector out of a rough patch.

Micron joined the party too, with shares gaining over 9% in the same session as AI-driven memory demand continued to surge. The Nasdaq Composite, which had dropped 4.2% in a brutal selloff earlier in the month, bounced back 1.71%.

What’s driving the Intel comeback

The stock has reportedly posted 225%-plus year-to-date gains in 2026, building on an already impressive 84% surge in 2025.

The Alphabet deal validates Intel’s foundry business at a moment when the company needs external customers to prove that its IDM 2.0 strategy, the ambitious plan to reclaim manufacturing leadership from TSMC, is more than a PowerPoint dream.

Central to that strategy is Intel’s 18A process technology, which has now entered risk production. The company’s next-generation chipmaking technique is being tested with real customers, a critical milestone before full-scale commercial production. If 18A delivers on its promises, Intel becomes a genuine alternative to TSMC for cutting-edge chip fabrication.

Why crypto investors should pay attention

There were no direct cryptocurrency or blockchain announcements tied to Intel’s June rebound. Intel has a history here that predates the current AI frenzy. The company previously developed blockchain-specific hardware, including its Blockscale ASIC line designed for Bitcoin mining, before pivoting resources toward AI opportunities. If Intel’s foundry business scales successfully with 18A, it could eventually provide a domestic manufacturing option for crypto hardware companies that currently rely almost entirely on TSMC in Taiwan.

Market implications and what to watch

For crypto markets specifically, the AI infrastructure buildout creates competing demand for fabrication capacity, potentially keeping prices elevated for specialized crypto hardware.

The key metric to watch is whether Intel can convert its Alphabet deal into a broader roster of foundry customers. If major tech companies start diversifying their chip manufacturing away from TSMC and toward Intel, it reshapes the entire supply chain calculus.