Intel Corp. (INTC) Jumps 20% as Firm Courts Apple Inc.

We recently published 10 Big Names With Explosive Gains That Investors Can’t Ignore. Intel Corporation (NASDAQ:INTC) is one of the companies that soared by double- and triple-digits last week.

Intel grew its share price by 20.01 percent week-on-week to hit a new all-time high as investor sentiment was boosted by news that it was courting Apple Inc. to invest in its business.

On Friday alone, Intel Corporation (INTC) soared to a new all-time high of $36.30 before trimming gains to finish the day just up by 4.44 percent at $35.50 apiece after announcements that it was courting Apple Inc. to invest as part of its efforts to bolster its revival and expansion program.

Initial negotiations are currently underway, with a focus on how to work more closely. Talks, however, could still fall through.

Earlier this month, Intel Corp. (NASDAQ:INTC) secured a $5 billion investment from chip giant Nvidia Corp., covering the development of AI infrastructures and personal computing products that accelerate applications and workloads across hyperscale, enterprise, and consumer markets.

Additionally, Intel Corp. (NASDAQ:INTC) and Nvidia will focus on seamlessly connecting their architectures using the latter’s NVLink, which would integrate the strengths of NVIDIA’s AI and accelerated computing with Intel’s leading CPU technologies and x86 ecosystem to deliver cutting-edge solutions for customers.

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Disclosure: None. This article is originally published at Insider Monkey.