What's Going On With Intel Stock Monday?

Author: Dylan Berman | September 16, 2024 10:56am

Intel Corporation (NASDAQ:INTC) shares are trading higher on Monday after Bloomberg reported that the company qualifies for up to $3.5 billion in federal grants to produce semiconductors for the Pentagon.

The Details: The company has faced competition from other chipmakers in seeking these funds and concerns regarding relying on one company for the Pentagon’s needs. Although Intel is likely to be awarded the grants, it has not yet officially been awarded to the company.

The money would add to the possible $8.5 billion in grants and $11 billion in loans that the company was previously awarded under the Chips and Science Act. Intel is still in the progress of negotiating this package and has not yet received the money.

The money would support Intel’s facilities in variety of states, including Arizona and Ohio.

The potential new grants would come from a program entitled Secret Enclave, also funded by the Chips and Science Act, which seeks to secure production of advanced chips for military and intelligence purposes.

How To Buy Intel Shares

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Intel (NASDAQ:INTC)'s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

Related Link: OpenAI’s ‘O1’ Model, Nvidia’s AI Demand, Google’s Missed Opportunity, And More: This Week In AI

INTC Price Action: At the time of writing, Intel stock is moving 4.17% higher at $20.48, according to data from Benzinga Pro.

Image: Photo via Shutterstock

Posted In: INTC