Why: The fresh momentum follows a report that the US government could take a stake in the company. Bloomberg reported that plans came about after a meeting between President Donald Trump and Intel CEO Lip-Bu Tan. Details are still being assessed but sources said that the US government plans on paying for a stake in the company.

Government Stake in Intel Sparks Surge Reports yesterday that the Trump administration is exploring a potential equity stake in Intel (NASDAQ:INTC), a move that could significantly reshape U.S. semiconductor policy,

Shares of Intel jumped Thursday to close 7.38% higher at $23.86 following news that the U.S. was discussing the possibility of taking a stake in the troubled chip maker. Shares continued to climb in after-hours trading.