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Intel is closing the week on a rocket ride. Shares of the resurgent chipmaker—Intel (INTC) recently blew past all time highs that had held since 2000, and have kept climbing since—jumped in Friday trading, pushed higher by reports that the company was moving closer to landing a deal to make chips for a Magnificent 7 client. Such a deal would mark a substantial milestone in the company's yearslong turnaround effort. Intel and Apple (AAPL) 'have reached a preliminary agreement for Intel to manufacture some of the chips that power Apple devices,' The Wall Street Journal reported Friday, citing people familiar with the matter. The Journal's report followed another from Bloomberg earlier in the week that reported preliminary talks between the companies. Intel declined to remark on the report. Apple did not respond to Investopedia's request for comment in time for publication. Shares of Intel were recently up 13%, making them among the S&P 500's top gainers, as broader markets rose. The move has the stock up more than 200% this year and close to 500% over the past 12 months. Strong earnings, driven by what management called 'unprecedented demand' for chips that can support the AI buildout, have also lately helped Intel shares—and, for now, set aside valuation questions some analysts post after other recent moves upward.
Coinbase has launched a High Yield USDC vault within its in-app DeFi lending offering, adding a second lending option that provides exposure to a wider range of collateral assets. The product is powered by Morpho infrastructure and uses vault allocations curated by Steakhouse Financial.
