In Brief

Posted:

1:02 PM PDT · May 8, 2026

Image Credits:Intel (opens in a new window)

- Connie Loizos

Intel’s comeback story is even wilder than it seems

Bloomberg has a deep dive this week into how Intel CEO Lip-Bu Tan is trying to rescue one of Silicon Valley’s most storied, and stumbling, chipmakers. It’s worth a read, but it actually undersells the most jaw-dropping part of the story: Intel’s stock has risen a stunning 490% over the past year, a bet by Wall Street that may be running well ahead of the company’s actual turnaround.

Tan, who took over in March of last year, has spent much of his first year schmoozing rather than restructuring — locking in a sweetheart deal with the U.S. government (now Intel’s third-largest shareholder), cozying up to Elon Musk on a factory partnership, and reportedly landing preliminary manufacturing agreements with both Apple and Tesla.

The fundamentals are still messy. Intel’s chip yields lag well behind industry leader TSMC, and employees tell Bloomberg that Tan has been light on specifics internally, with some teams adjusting missed deadlines rather than recovering from them.

But investors are betting big on the bigger picture. Whether the execution follows is the multi-billion-dollar question.

Topics

AI, Apple, Elon Musk, Enterprise, Hardware, Intel, Lip-bu Tan, TC

May 27

Athens, Greece

StrictlyVC Athens is up next. Hear unfiltered insights straight from Europe’s tech leaders and connect with the people shaping what’s ahead. Lock in your spot before it’s gone.

Newsletters

Subscribe for the industry’s biggest tech news

TechCrunch Daily News

Every weekday and Sunday, you can get the best of TechCrunch’s coverage.

TechCrunch Mobility

TechCrunch Mobility is your destination for transportation news and insight.

Startups Weekly

Startups are the core of TechCrunch, so get our best coverage delivered weekly.

StrictlyVC

Provides movers and shakers with the info they need to start their day.

No newsletters selected.

By submitting your email, you agree to our Terms and Privacy Notice.

The fax machine is the bottleneck in US healthcare, and VCs are starting to notice

- Connie Loizos

16 hours ago

Elon Musk’s lawsuit is putting OpenAI’s safety record under the microscope

- Tim Fernholz

1 day ago

Is xAI a neocloud now?

- Russell Brandom

2 days ago

Latest in Enterprise

In Brief

Intel’s comeback story is even wilder than it seems

- Connie Loizos

19 minutes ago

Cloudflare says AI made 1,100 jobs obsolete, even as revenue hit a record high

- Julie Bort

2 hours ago

Fundraising

Ethos raises $22.75M from a16z for its expert network with voice onboarding

- Ivan Mehta

2 days ago

Intel's comeback story is even wilder than it seems