An AMD-Intel acquisition hoax spreads on April Fools' Day
A false report claiming that AMD had agreed to acquire Intel circulated online on Wednesday April 1, briefly sowing confusion among investors before being swiftly debunked. The hoax gained traction on Reddit and social media, timed to coincide with April Fools' Day and capitalizing on years of speculation about shifting competitive dynamics between the two chipmakers.
Posts claiming AMD was preparing to acquire Intel appeared on Reddit forums and social media early Wednesday, including a thread on r/AMD_Stock asking whether the reported deal was real, and a post on r/pcmasterrace describing the supposed move as the strangest reversal in chip industry history. TipRanks was among the outlets to publish an explicit rebuttal, confirming that no credible information supported an acquisition between the two companies. The outlet noted that both stocks had risen during the day, with AMD up roughly 3 percent and Intel gaining approximately 8 percent, and suggested the hoax may have contributed to some of those moves.
The stock gains for both companies were, however, driven by genuine announcements rather than the hoax. Intel revealed a definitive agreement to buy back the 49 percent stake in its Irish manufacturing joint venture held by Apollo Global Management for $14.2 billion, a transaction the company framed as reflecting continued commercial momentum and confidence in its manufacturing future. The deal is expected to improve Intel's earnings per share and strengthen its balance sheet.
AMD's gains were tied to sustained AI chip demand. Reports indicated that AI startup Upstage was considering the purchase of 10,000 AMD chips, adding to the company's growing data center customer base. Reuters had also reported earlier this year that AMD secured a deal to supply up to $60 billion worth of AI chips to Meta Platforms over five years.
The hoax resonated partly because the idea of AMD surpassing or acquiring Intel has become a recurring theme in semiconductor circles. AMD posted record fourth-quarter 2025 revenue of $10.27 billion, up 34 percent year-on-year, while Intel reported a GAAP net loss of $591 million for the same period. Wells Fargo named AMD its top semiconductor pick for 2026 in January, setting a price target of $345 with an overweight rating.
One Reddit commenter captured the irony concisely, noting that AMD typically receives good news and its stock falls, yet on April Fools' Day it received false news and the stock rose.
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