On October 17, 2025, Intel Corporation (INTC) shares are trading at $35.61 in pre-market, down -3.34% from the previous close of $36.84. The decline follows a volatile period triggered by conflicting reports about a potential foundry partnership between Intel and AMD. Initial speculation, reported by outlets such as Semafor and Reuters, suggested AMD might use Intel's foundry services, causing Intel shares to surge over 5%. However, these reports were quickly challenged by industry sources, casting doubt on the partnership and leading to a market pullback. The episode highlights investor sensitivity to Intel's foundry ambitions, which remain under scrutiny due to persistent financial losses and the need for major external customers to achieve profitability. Broader market risk aversion and global equity declines may also be contributing to the negative sentiment.