BUZZ-Intel shares slip, but on pace for best week in over two decades

Shares of Intel INTC.O fall 4.6% to $23.02, set to snap a four-day winning streak

However, shares are on pace for weekly gains of over 20%; the best week since January, 2000

White House is seeking to renegotiate U.S. CHIPS and Science Act awards and has signaled delays to some upcoming disbursements, Reuters reports

Weekly gains are likely due to investors buying INTC on hopes that sector heavyweight Nvidia's NVDA.O earnings, due February 26, will lift other chip stocks - Larry Tentarelli, chief technical strategist, Blue Chip Daily Trend Report

"(Intel) got oversold ... quite a bit after the DeepSeek news ... what you've got is traders buying ahead of earnings, hoping that Nvidia will beat earnings like they normally do" - Tentarelli

INTC is the worst-performing component of the Philadelphia SE Semiconductor Index .SOX over the past one year, down over 47% versus the index's 13% gain

Intel also lifted earlier in the week after U.S. Vice President JD Vance said Donald Trump's administration would ensure the most powerful artificial intelligence systems would be built in the country

Including today's moves, Intel is up 14.2% this year versus the SOX's 2.7% rise