BUZZ-Intel hits 7-week high on M&A speculation

Updates

Shares of Intel INTC.O climb 8% to $21.27, top gainer on the S&P 500 index .SPX

Stock moves higher in premarket trading after chip-focused publication SemiAccurate reports that an unnamed company was considering buying Intel "whole", citing email and confirmation from "high level source"

Intel did not immediately respond to a Reuters request for comment on the report

Stock rose to as much as $21.54 in early trading, highest level since Dec. 5

If gains hold, it would be the stock's best day since August 2024

INTC shares fell 58% in past 12 months, becoming the worst performing stock on Philadelphia Chip Index .SOX, which has risen ~27% in the same period

(Reporting by Medha Singh)

((medha.singh@thomsonreuters.com))