Intel (NASDAQ: INTC) is making a comeback after a challenging period marked by significant losses and falling behind competitors. The company's 18A manufacturing process is now shipping in real products, a critical step in its turnaround. In 2025, the U.S. government, Nvidia, and SoftBank collectively invested roughly $15.9 billion in Intel common stock, signaling confidence in its future. Additionally, Intel raised $20 billion through a stock offering in August 2026, though this diluted existing shareholders.
The company's newest Arizona fab is producing its Core Ultra Series 3 chips, known as Panther Lake, built on the Intel 18A process. Intel claims this is the most advanced semiconductor process developed and manufactured in the United States. The company is also working on the next node, 18A-P, and has launched the Xeon 6+ server chip built on 18A.
The investments from the U.S. government, Nvidia, and SoftBank totaled $8.9 billion, $5 billion, and $2 billion respectively. These investments suggest that major players believe in Intel's potential, despite the challenges of scaling up a new manufacturing process. However, the stock offering at $95 a share diluted existing shareholders, spreading future profits more thinly.
Looking ahead, the stock's performance will depend on the success of Panther Lake and the 18A process. Analysts predict Intel shares could trade between $110 to $130 by the end of 2027 if the ramp-up is successful. Conversely, if the ramp stumbles, shares could fall to the high $60s to low $80s. The confidence of major investors tips the scale toward a more optimistic outlook.