With its shares trading down more than 57% so far in 2024 while the S&P 500 is up roughly 18%, it's pretty clear that Intel (NASDAQ: INTC) is having a difficult year.

Intel stock (INTC) popped 6% early on Sept. 17 after the chip maker announced plans to separate its foundry business into an independent unit with its own board and the ability to raise outside capital.

Shares of Intel are surging before the opening bell after the chipmaker said its foundry business would make some custom artificial intelligence chips for Amazon Web Services as it attempts to reinvigorate its business.

After hanging on the ropes for much of August and September, Intel (INTC -3.26%) is suddenly having a banner week. The stock jumped yesterday after the company secured $3 billion

Intel stock (NASDAQ: INTC) is trading at about $19 per share, its lowest point in over a decade. Could the stock rise by over 3x per share in the next few years? Does this sound a bit ridiculous? Consider this - Intel stock was trading at levels of about $60 per share just about three years ago.

Intel Corp. has made a raft of announcements over the past 24 hours in an effort to prove that a turnaround for the troubled chipmaker is starting to bear fruit.

The most significant transformation of Intel in over four decades” includes $10 billion in cost cutting and foundry business spinoff.

EDT, Intel shares were at $21.62, up $0.70 or 3.37 per cent. On Monday, Intel shares had gained 6.4 per cent. The deal provides some respite to Intel's investors as the chipmaker’s shares had fallen nearly 60 per cent this year.

The partnership, which the companies describe as a multi-year, multi-billion-dollar co-investment, comes as Intel continues to build out its $28 billion chip manufacturing complex in New Albany.

Intel shares jumped 7% before the bell on Tuesday, as a chip-making deal with Amazon's cloud business provided a major stamp of approval for its struggling contract manufacturing business. The chipmaker will build custom AI chips for Amazon Web Services (AWS) as part of the multibillion-dollar deal.