After months of turbulence, Intel Corp. bulls are finally being rewarded for their patience. But the stock’s sudden rebound comes with a worrying side effect: a valuation so high its most recent precedent is from the dot-com era more than two decades ago.

Liberal U.S. Senator Bernie Sanders on Wednesday threw his support behind President Donald Trump's plan to convert U.S. grants to chipmakers, including $10.9 billion for Intel, into government stakes in the companies.

A $2 billion investment represents a roughly 2% stake, ranking SoftBank the fifth-largest shareholder of Intel, while a reported 10% stake by the U.S. would be worth about $10.4 billion as of Monday’s share price.

Intel is getting a $2 billion investment in common stock from SoftBank, which is betting big on the AI revolution.

A US government plan to take a stake in Intel Corp. would give the ailing chipmaker a powerful backer, even if a bigger challenge still lies ahead: finding enough paying customers.

Shares in the chip maker rose following news of SoftBank’s planned investment and a possible stake for the U.S. government.

Commerce Secretary Howard Lutnick told CNBC the U.S. government wants a stake in Intel in exchange for CHIPS Act grant money promised under Biden.

Target names a new CEO and posts quarterly earnings that beat analysts’ forecasts, while Palantir extends losses into a sixth-straight session.