Intel Climbs 7.5% as CoreWeave Results Boost AI Chip Demand

Intel shares rose 7.52% to close at $62.50 on Wednesday, Nov. 11, 2026, as a broader semiconductor rally driven by strong AI infrastructure demand lifted the chipmaker. The rally followed CoreWeave's better-than-expected third-quarter results, which showed revenue of $3.7 billion, more than double the prior year's $1.4 billion, and raised its full-year outlook. This softened investor concerns about AI industry growth, reversing a sell-off triggered by last week's U.S. midterm elections, where Democratic gains raised fears of tighter AI regulations and paused data center projects. Intel's gains mark a rebound from its Oct. 29 crash, when weak fiscal Q4 guidance due to a faltering PC market reset Wall Street expectations. The PC sector faces a steep downturn from component shortages and rising prices tied to AI infrastructure demand.