Tech stocks surged after the Federal Reserve hinted at a potential interest rate cut next month. Intel stock also rose as the U.S. government is set to acquire a 10% stake in the company. Federal Reserve chair Jerome Powell’s speech raised hopes for rate cuts, while news of the government investment boosted Intel’s valuation. The move will provide funding through the CHIPS Act and support for AI chip designs. Investors are optimistic about Intel’s future, with the stock gaining 5.5% in a day of strong trading.

Read more at Nasdaq: Why Intel Stock Soared Today