Intel shares rose roughly 9% Tuesday to around $103.60 after DigiTimes reported that the company could raise PC CPU prices by another 10% in October. Northland Securities upgraded Intel to Outperform and set a $120 price target, citing material progress in the turnaround and tight server CPU supply. The rally increased the paper value of the U.S. government’s 433.3 million-share, 9.9% stake by about $3.4 billion in one session, to approximately $44.9 billion. Washington acquired the holding in August 2025 for $8.9 billion, or $20.47 per share, by converting $5.7 billion of unpaid CHIPS Act grants and $3.2 billion from the Secure Enclave program into equity. The position implies an unrealized paper gain of about $36 billion, although its value changes with Intel’s share price. The government has no board seat and remains a passive shareholder. Intel has reportedly raised prices several times since late 2025, reflecting a strategy focused on gross margin rather than volume. Second-quarter revenue increased 25% from a year earlier to $16.1 billion, while Intel Foundry revenue rose 31% to $5.8 billion. The company said AI demand was supporting CPUs, advanced packaging and manufacturing. Intel’s stock is up roughly 178% in 2026, but the turnaround still depends on customer acceptance of higher prices, server demand and the 18A foundry ramp. Intel and ASML have also said Intel processed more than one million wafers through High-NA EUV machines, including testing, research and production.