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Intel stock surges over 230% this year, landing among top 5 S&P 500 performers
AI chip demand and manufacturing gains have turned Intel from a cautionary tale into one of the market's biggest winners of 2026
Intel’s stock has climbed more than 230% this year, placing it among the five best-performing names in the S&P 500.
The chipmaker started 2026 at $36.90 a share. By October 2, it had reached approximately $119.33, a year-to-date gain of about 223%. Reported gains ranged from 220% to 236% at various points during the second quarter.
The numbers behind the rally
Intel has more than tripled since January. That price action pushed Intel’s market capitalization to approximately $631 billion in early October 2026.
Intel’s stock gained more than 35% in September 2026 alone, which means the steepest part of the climb came well after the early-year enthusiasm.
Intel reported second-quarter 2026 revenue of $16.1 billion, up 25% year-over-year.
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AI and data center revenue rose 59% year-over-year to $6.3 billion in Q2 2026.
From a 60% collapse to a comeback
Intel’s stock fell 60% in 2024. Then came 2025, when shares rebounded 84%.
Intel’s main rival in AI CPUs and foundry services is AMD, which has also been posting substantial gains across the AI and semiconductor space.
What this means for investors
Intel’s forward price-to-earnings ratio was cited at around 84x current-year estimates. At 84 times, the market is paying a steep premium for growth it expects to arrive later.
For now, the key metrics to track are straightforward. Watch whether AI and data center revenue keeps growing at the pace seen in Q2, whether overall revenue growth holds near the 25% mark, and whether September’s momentum carries into the final quarter.