Intel Stock Surges 24% on Strong Q1 Earnings, U.S. Government Holds $27.1B Unrealized Gain

Gate News message, April 24 — Intel reported first-quarter 2026 earnings on April 24, posting revenue of $13.6 billion, up 7% year-over-year and 11% above Wall Street consensus. Non-GAAP earnings per share came in at $0.29, versus analyst expectations of $0.01, representing a 29-fold beat—an exceptionally rare margin for a large-cap stock.

Following the announcement, Intel shares surged over 24% in pre-market trading to $83.27, boosting the U.S. government’s stake to an unrealized gain exceeding $27.1 billion. The government’s position stems from an August 2025 transaction under the CHIPS Act, when the Trump administration converted $8.9 billion in funding and Secure Enclave resources into 433.3 million Intel shares at $20.47 per share, securing approximately 9.9% ownership.

With Intel trading at $83.27 in Friday pre-market action, the government’s holdings are now valued at approximately $36 billion, nearly tripling in less than a year. The U.S. government also holds warrants allowing it to purchase an additional 5% of shares at $20 per share.