Intel

A quarter of growth doesn't undo three years of losing ground to TSMC and Nvidia, but it buys Intel's board time it didn't have in June. Second-quarter sales rose 25%, the fastest pace in 15 years, and the market rewarded it with a share price rally that eases pressure on the foundry spin-off debate. The real test is whether AI-driven demand is broad enough to fill Intel's fabs or whether this is Nvidia's overflow business landing on someone else's balance sheet. Either way, Intel's leadership just bought itself another two quarters before investors start asking about 18A yields again.

Intel stock gained after Musk confirmed his planned Terafab facility will use Intel's most advanced manufacturing processes. The endorsement provides Intel with a marquee customer for its foundry ambitions, crucial as the company fights TSMC for AI chip production contracts. Musk's public backing could help Intel win other hyperscaler customers who have been skeptical of its foundry capabilities. The partnership also gives Tesla direct access to cutting-edge chip production, reducing dependence on NVIDIA's supply chain for AI hardware.