Intel’s comeback story is even wilder than it seems

Source: TechCrunch

Posted: 1:02 PM PDT · May 8, 2026

Image Credits: Intel

Intel’s comeback story is even wilder than it seems

Bloomberg deep‑dive

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’s first‑year moves

• Government partnership: Locked in a sweetheart deal with the U.S. government, making it Intel’s third‑largest shareholder.
• Musk collaboration: Cozying up to Elon Musk on a factory partnership.
• Potential OEM deals: Reportedly landing preliminary manufacturing agreements with both Apple and Tesla.

Tan took over in March of last year, and much of his first year has been spent schmoozing rather than restructuring.

Ongoing challenges

• Yield gap: Intel’s chip yields still lag well behind industry leader TSMC.
• Internal uncertainty: Employees tell Bloomberg that Tan has been light on specifics internally, with some teams adjusting missed deadlines rather than recovering from them.

Investor outlook

Investors are betting big on the bigger picture. Whether the execution follows is the multi‑billion‑dollar question.