The Trump administration has effectively put a buy rating on Intel’s stock. But that alone won’t get the troubled chip maker out of its jam. Intel’s shares have soared 22% so far this week. The run started after Vice President JD Vance delivered a speech at an AI summit in Paris early Tuesday that touted the White House’s aim to shore up domestic chip production.

Intel early Friday was on track to notch its best weeklong stretch in nearly 40 years before the rally sputtered.

Intel’s stock has enjoyed a strong three-day rally, fueled by a hospitable political climate and analyst commentary about its CPU business.

TSMC, which manufactures chips in Taiwan for Nvidia and other Intel competitors, is the gold standard in chip manufacturing. A deal with TSMC that enables Intel's foundries to produce chips on par with those of its rivals could be a game changer for the struggling company.

Intel (INTC) stock extended its rally into a fourth day on Thursday, jumping 7.3% to close at $24.13 per share. The legacy chip maker is now up about 23% so far this year — compared with a gain of just 0.