Intel Stock Up On Takeover Rumors

(RTTNews) - Intel Corp . (INTC) shares rose 8% on Friday morning amidst speculation that the company could be a potential acquisition target.

Tech news site SemiAccurate reported that it "read an email about a company trying to acquire Intel, whole."

The boost in Intel's share price marks a positive turn for the company, which saw a significant decrease in its stock value over the past year.

In 2024, Intel shares shed 60%, reflecting challenges the company faced in a competitive market.

Last month, Chief Executive Officer Pat Gelsinger was forced out after the board lost confidence in his plans to turn around the company.

SemiAccurate's report said the "mystery company has the resources to pull it off."

"Our problem was that while we knew the email was real and it said directly that the company was interested acquiring Intel, we couldn't determine if it was a plan of action or just a CEO tossing ideas out," SemiAccurate said.