Intel shares rise 7% amid market movements in premarket trading
- Intel Corporation's shares increased by 6.9% to $22.36 in pre-market trading following a strategic collaboration announcement with AWS aimed at enhancing US-based chip manufacturing.
- Other notable pre-market movers included Galmed Pharmaceuticals, which surged 73.1%, and Wheeler Real Estate Investment Trust, which rose 36.7%.
- The rise in Intel's shares reflects positive market sentiment towards the company's initiatives in the semiconductor industry.
Intel Corporation experienced a notable increase in its stock price during pre-market trading, rising 6.9% to $22.36. This surge followed the company's announcement of a strategic collaboration with Amazon Web Services (AWS), which aims to advance chip manufacturing in the United States. This partnership is seen as a significant step towards strengthening domestic semiconductor production, a critical area for the tech industry amid global supply chain challenges. The pre-market trading session also highlighted other stocks with substantial movements. Galmed Pharmaceuticals saw a remarkable gain of 73.1%, recovering from a previous decline, while Wheeler Real Estate Investment Trust experienced a 36.7% increase. These movements indicate a broader trend of volatility and investor interest in various sectors. In addition to the gains, several companies faced declines, reflecting the mixed nature of the market. For instance, Netcapital Inc. fell by 33% after reporting disappointing earnings, showcasing the risks associated with stock investments. Overall, Intel's collaboration with AWS is expected to have positive implications for the company's future, as it aligns with the growing demand for semiconductor technology. The market's reaction underscores investor confidence in Intel's strategic direction and the potential for growth in the semiconductor sector.