Intel (NASDAQ:INTC) closed at $48.78, up 11.04% after reports of potential Nvidia and Apple deals and insider buying. Trading volume hit 200 million shares, surpassing the average by 107%. Intel, which IPO’d in 1980, has grown 14,885% since going public.

The S&P 500 slipped 0.01% to 6,978, while the Nasdaq Composite rose 0.17% to 23,857. Advanced Micro Devices closed at $252.74, Nvidia at $191.52, both trailing Intel’s rebound. Intel’s market move today was driven by rumors of Nvidia and Apple shifting chip production to Intel.

Despite a great day for Intel, the stock has yet to recover from last week’s earnings report showing a $300 million loss and supply constraints. Investors are optimistic about potential partnerships with Nvidia and Apple, with Intel’s CEO buying stock and a high price target from an analyst boosting confidence.

Read more at Nasdaq: Stock Market Today, Jan. 28: Intel Surges After Reports of Nvidia and Apple Foundry Partnerships