US Stock Market Move | Winning a major contract from the US military, Intel Corporation (INTC.US) surged more than 6% at the opening.

On Wednesday, Intel Corporation (INTC.US) opened with a gain of over 6%, bringing its total increase for the year to 40%, with the stock now trading at $51.62. In terms of news, on January 20th, the newly appointed Vice President of Government Affairs, James Chew, announced that Intel Corporation has successfully won a significant contract from the US Department of War (formerly the Department of Defense), becoming the chip supplier for the indefinite delivery/indefinite quantity (IDIQ) contract for the US Missile Defense Agency's Scalable Homeland Defenses (SHIELD) project, with a maximum ceiling of $151 billion. Furthermore, Intel Corporation is set to release its earnings report after market close on January 22nd. Shareholders of Intel Corporation have reached peak optimism for this quarter's earnings report, as they are betting that CEO Liwu Chen's promised transformation plan has started to show results, and the large-scale expansion of the data center is driving strong demand for Intel Corporation's traditional server chips in the market.