Intel Shares Swing With 6% AI Chip Rally After 2% Pre-Market Drop
INTC•Intel stock fell nearly 2% in July 1 premarket trading but rebounded to post a 6.01% gain as AI chip sector demand lifted peers Micron and AMD. Separately, Raja Koduri’s AI chip startup Oxmiq raised $35 million to fund new architecture development, highlighting potential competition in Intel’s graphics segment.
1. Pre-Market Decline
On July 1, Intel shares fell nearly 2% in premarket trading as overnight market weakness pressured technology stocks and investor caution rose.
2. AI Chip Rally Propels Shares
Later in the session, Intel stock surged 6.01%, outperforming Micron and AMD, as investors rotated into AI chip makers ahead of Q2 2026 earnings.
3. Oxmiq Funding Sparks Competitive Concerns
Raja Koduri’s AI chip startup Oxmiq secured $35 million to accelerate development of advanced architecture, signaling potential competition for Intel’s accelerated computing and graphics initiatives.
