Intel stock soared in 2025. But the chipmaker still has a long road ahead.

Core Insights - Intel experienced a significant year in 2025 with a new CEO and substantial investments from the US government, Nvidia, and SoftBank, leading to an 86% stock increase, outperforming major tech rivals [2] - Despite these developments, Intel's manufacturing segment still lacks a major external customer, which is essential for its financial viability [2][4] - Analysts express cautious optimism about Intel's future relevance in the chip manufacturing sector, although no major deals have been established to solidify its manufacturing position [3] Company Developments - The appointment of Lip-Bu Tan as CEO in March 2025 has renewed investor confidence in Intel's turnaround potential, despite the company's strategy remaining largely unchanged [6] - Previous CEO Pat Gelsinger's aggressive turnaround efforts faced skepticism from investors due to high spending and uncertain outcomes [5] Industry Context - Intel has historically been a pioneer in the semiconductor industry, credited with inventing the first microprocessors and the x86 architecture, which has shaped the digital revolution [3] - The company has struggled to maintain its competitive edge against rivals like AMD and Arm, resulting in a loss of market share in key product segments [4]