Intel shares rose 14% on Tuesday, reaching a record high amid reports that Apple is in talks with the chipmaker and Samsung to supply components for its U.S. devices.
The move follows a strong performance in April, when the stock surged 114%.
The development has reignited investor interest in the semiconductor sector, with Intel's stock benefiting from speculation about its potential role in Apple's supply chain.
The company has not yet commented on the Bloomberg report, but the market has already priced in optimism about the potential partnership.
The broader semiconductor industry has been underpinned by ongoing demand for data-center infrastructure and AI-related hardware.
Recent reports indicate that tech hyperscalers are expanding their data-center footprints, which could support continued momentum for chipmakers like Intel and TSMC.