The Intel bulls have been a bit desperate for some good news to counter all the negativity for some time now. They recently got some in the form of two new announcements about Intel's foundry division. The news sparked a 9.2% jump in the stock price over two days (Sept. 16-17).

Intel’s partnership with AWS is part of the chipmaker’s attempt to play catch-up. The new deal, along with a $3 billion grant from the US government to boost domestic chip making and make chips for the US military, “demonstrates the continued progress we are making to build a world-class foundry business,” Intel said in the statement.

The two companies will co-invest in making "fabric chips" that will be built in a new factory under construction outside Columbus, Ohio.

Intel shares jumped almost 4% in early trading on Tuesday, as a chip-making deal with Amazon's cloud business gave a major stamp of approval to its money-losing contract manufacturing business.

Intel Corp. shares surged for the second straight day after the troubled chipmaker made a raft of announcements, spurring optimism that a turnaround plan is starting to bear fruit.

Intels recent announcement of a multi-billion-dollar Amazon partnership sparked an 8% jump in its share price. However, major banks like JPMorgan and Bank of America remain skeptical, citing the long timeline

EDT, Intel shares were at $21.62, up $0.70 or 3.37 per cent. On Monday, Intel shares had gained 6.4 per cent. The deal provides some respite to Intel's investors as the