Intel pre-market surges 29%! Q1 earnings report is impressive, US government's 10% stake sees floating profit of $28.4 billion

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Intel (INTC) surged 28.80% in pre-market trading on the 24th (Taiwan time), with its stock price jumping from the previous closing price of $66.78 to $86.01. The company reported Q1 2026 revenue of $13.6 billion, a 7% year-over-year increase, and raised its Q2 revenue guidance to between $13.8 billion and $14.8 billion. (Context: SoftBank to invest $2 billion in Intel; Trump administration reportedly considering acquiring a 10% stake in Intel as a national shareholder, driving post-market gains.) (Background: Trump slams Intel CEO Lip-Bu Tan, demanding his resignation over deep ties with China!) Intel reported Q1 earnings after the market closed on April 23 (US Eastern Time) that far exceeded market expectations, triggering a 28.80% jump in its stock price in pre-market trading the following day. The single-day increase in market capitalization resulted in an overnight paper profit of $28.4 billion for the 10% stake acquired by the US government for $8.9 billion last year. Q1 Results Beat Expectations, Q2 Guidance Revised Upward The rally was triggered by Intel's Q1 2026 earnings report released after the US market closed on April 23. Revenue reached $13.6 billion, up 7% year-over-year, significantly surpassing Wall Street's expectation of $12.4 billion. Non-GAAP earnings per share were $0.29, compared to the market's initial forecast of a $0.01 loss. The Data Center and AI (DCAI) business segment generated $51 billion in revenue, a 22% year-over-year increase, serving as the strongest growth engine for the quarter. The company also raised its Q2 revenue guidance to a range of $13.8 billion to $14.8 billion, higher than the analyst consensus of $13.06 billion. Following the earnings release, INTC surged 22% in post-market trading, with the momentum continuing into the next day's pre-market session. As of 5:52 PM on April 24 (Taiwan time), INTC was trading at $86.01 in pre-market, up $19.23 from the previous closing price, an increase of 28.80%. CEO Lip-Bu Tan opened the earnings call by quoting the late Intel co-founder Andy Grove, "Only the paranoid survive," stating that the company is "returning to its paranoid roots centered on data and engineering." In August 2025, the Trump administration acquired 433.3 million common shares of Intel for $8.9 billion under the framework of the CHIPS Act, at an average cost of $20.47 per share. This stake represents approximately 10% of the company, making it Intel's largest external shareholder at the time. Based on the pre-market price of $86.01, the value of this holding has ballooned to $37.3 billion, resulting in a paper profit of approximately $28.4 billion. For the Trump administration, this marks a successful initial outcome in its shift from "subsidizer" to "shareholder" in industrial policy.

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