Story
Intel and Amkor Surge on AI Optimism; eBay Slips on Competitive Fears
Summary
Intel raised its capital spending forecast and Amkor announced a major Nvidia partnership, boosting both stocks on AI demand. Meanwhile, eBay shares fell after Meta launched a new seller app, stoking competition concerns.
Intel and Amkor Technology shares surged in premarket trading Friday, fueled by separate announcements highlighting continued robust investment in artificial intelligence infrastructure. In contrast, eBay shares declined on concerns over new competition from Meta Platforms.
AI Sector Sees Strong Momentum
Intel (INTC) stock jumped 6% after the chipmaker forecast third-quarter revenue that surpassed Wall Street estimates. The company also raised its 2026 capital expenditure plan to $20 billion, an increase from its previous projection of $18 billion. The upbeat outlook was attributed to the growing adoption of Intel’s data center CPUs by customers building out AI systems.
Separately, Amkor Technology (AMKR) shares climbed 10.8% following the announcement of a $1.5 billion multi-year strategic partnership with Nvidia. The agreement aims to expand advanced semiconductor packaging capacity in the United States, with Nvidia providing a prepayment to support the expansion of Amkor’s Arizona operations.
E-Commerce and Telecom in Focus
Shares of eBay (EBAY) slipped 3.7% as investors reacted to news that Meta Platforms launched a dedicated Seller app for its Facebook Marketplace. The move is perceived as a direct challenge to eBay’s core seller base, fueling concerns about increased competition in the online marketplace sector.
AdIn the telecommunications space, Charter Communications (CHTR) fell 3.9% despite reporting second-quarter earnings that topped expectations. The negative sentiment appeared linked to a narrow revenue miss and, more significantly, the loss of 172,000 broadband subscribers during the quarter, highlighting intensifying competition from fiber and fixed-wireless providers.
Other Notable Movers
A number of other companies saw significant premarket moves based on earnings reports and corporate news:
- Noodles & Company (NDLS): Rallied 12.8% after the restaurant chain reported second-quarter adjusted earnings of $0.18 per share, comfortably beating analyst expectations for a loss.
- Verizon Communications (VZ): Gained 2.2% after the telecom giant reported second-quarter earnings that outperformed Wall Street forecasts.
- MaxLinear (MXL): Dropped 10.3% in an apparent "sell the news" reaction, even as the company's second-quarter earnings and revenue came in ahead of expectations.
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