Intel (INTC) stock is up today after the chipmaker agreed to buy Classiq, a quantum computing software company. Intel says the deal would turn its quantum computing group into a full-stack business, from chips to software.
As of 11:18 AM ET, Intel was up 2.9% at $93.12, while the S&P 500 was up 0.5%. The stock rose as much as 4% in the first 15 minutes of trading.
Intel announced the deal after the prior session’s close and didn’t disclose a price
It plans to pair Classiq’s software, which automates the design of quantum algorithms, with its own silicon spin-qubit chips and manufacturing
The deal would add quantum processors to a lineup that already spans CPUs, GPUs and custom chips
The purchase is expected to close in the first half of 2027, pending regulatory approvals
The gain builds on a 4% jump in the prior session, when New Street Research upgraded Intel to Buy from Neutral with a $125 price target. Even so, the stock is about 34% below its 52-week high of $142.35, set on June 30. The White House has also bet on quantum computing stocks this year.
More stock moves are on our stocks page.
The next test comes October 29, when Intel reports third-quarter results after the close.
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