GraniteShares 2x Long INTC Daily ETF (INTW) Rallies +80% Over 30 Days on Intel Strength

Key Takeaways

• INTW is a leveraged single-stock ETF seeking 200% of Intel (INTC)'s daily return, and it has surged roughly 80% over the last 30 days.
• The move mirrors a sharp rally in Intel shares as demand for server central processing units (CPUs) tied to agentic artificial intelligence (AI) accelerated.
• Over the trailing quarter, INTW remains down approximately 36%, reflecting a severe July–August drawdown that preceded the September rebound.
• Key catalysts include Meta's Muse AI agent launch, CEO commentary on CPU supply constraints, improving 18A manufacturing yields, and reported SK Hynix memory-production talks.
• As a daily-reset leveraged product, INTW carries compounding and volatility-decay risk and is designed for short-term trading rather than buy-and-hold investing.

GraniteShares 2x Long INTC Daily ETF (INTW) Overview and Portfolio Exposure

INTW seeks daily investment results, before fees and expenses, equal to two times (200%) the daily percentage change in the common stock of Intel Corporation. Rather than holding Intel shares directly, the fund achieves its exposure through total return swaps, using U.S. Treasury bills and cash as collateral. The portfolio consists of only a handful of positions, essentially Intel-linked swaps plus government collateral, and carries a net expense ratio of 1.50%.

This structure makes INTW a single-name, single-sector bet concentrated in the semiconductor industry. Because the fund resets its leverage daily, its return over any multi-day period can diverge from a simple two-times multiple of Intel's cumulative move, particularly during choppy trading. That amplification works both ways, which helps explain the fund's extreme swings relative to the underlying stock. I also checked this using Tickeron’s AI Screener to see how the fund compares to other leveraged products in the space.

GraniteShares 2x Long INTC Daily ETF (INTW) Price Performance: Last 30 Days vs. Quarter

INTW has climbed approximately 80% over the last 30 days, rising from a closing level near $18.73 to around $33.65. The move has been concentrated and momentum-driven rather than gradual, with much of the gain arriving in the final sessions of the window as Intel shares broke higher.

Despite that powerful rally, the broader picture is more complex. Over the trailing quarter, INTW is down roughly 36%, from a level near $52 to its current price. This pattern—a steep mid-summer decline followed by a sharp autumn rebound—illustrates both the leverage embedded in the fund and the volatility that has defined Intel's turnaround story throughout 2026.

What Drove INTW Price in the Last 30 Days

The single dominant driver is Intel, whose shares surged roughly 25% in a five-session stretch as investor enthusiasm around AI-driven CPU demand reignited. The proximate catalyst was the rapid adoption of Meta (META)'s Muse AI agent, which requires substantial CPU compute to execute multi-step tasks. Intel CEO Lip-Bu Tan noted that the company could satisfy only about half of customer orders, reinforcing expectations of tight supply and rising prices.

Several supporting developments compounded the move. Reports indicated that SK Hynix is exploring U.S. memory-chip production potentially tied to Intel's Ohio campus, while Intel and ASML announced a milestone in high-numerical-aperture EUV lithography. Analyst upgrades and higher price targets from firms including Tigress Financial, Barclays, and KeyBanc added fuel. Because INTW delivers 2x daily leverage, these gains in Intel translated into an outsized move in the ETF.

What Drove INTW Performance Over the Last Quarter

The trailing quarter tells a two-part story. Intel's stock soared through the first half of 2026 as its turnaround—led by the 18A process node, a $5 billion strategic investment from Nvidia (NVDA), and renewed foundry momentum—captured investor attention. That run left valuations stretched, and a sharp correction followed in July and August as profit-taking and a broad reassessment of AI-infrastructure spending weighed on the semiconductor complex.

September then brought a decisive rotation back into CPU makers such as Intel and AMD (AMD) as agentic AI applications shifted the narrative toward central processors. For a leveraged fund, the round trip—deep drawdown followed by rapid recovery—also introduced meaningful volatility decay, leaving INTW below its quarterly starting point even after an 80% one-month surge.

INTW ETF Outlook: What Investors Should Watch Next

The outlook for INTW is inseparable from Intel's execution and the durability of the AI-CPU demand cycle. Investors should monitor foundry progress, particularly 18A yields and the trajectory of 14A development, as well as whether early discussions with partners such as SK Hynix translate into signed agreements. The conversion of Intel's foundry pipeline into meaningful external revenue remains a key variable.

Macroeconomic conditions matter too. Elevated inflation and shifting interest-rate expectations can influence the valuation of high-multiple technology stocks, while capital-expenditure commitments from hyperscalers underpin near-term semiconductor demand. Finally, because INTW resets its leverage daily, holding periods longer than a single session expose investors to compounding effects that can erode returns even when the underlying stock trends favorably. These structural risks are essential considerations for anyone evaluating a leveraged, single-name ETF. From what I see, this is important because the product is built for short-term use.

Using Tickeron’s AI Screener for ETF Research

In my own work tracking leveraged products and semiconductor themes, Tickeron’s AI Screener has become a regular part of the process. It lets me scan for technical setups, volatility patterns, and industry signals across thousands of names in one place. The tool helps surface candidates that align with the momentum I am already watching in names like INTW, without replacing the deeper fundamental review. I find it particularly useful when markets shift quickly and I need to compare relative strength across related ETFs and stocks.

Disclaimer

The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.

Disclaimers and Limitations

Contributor

Jimmy Landsman|Expert

My name is Jimmy, and I’m a financial analyst focused on identifying compelling opportunities across the ETF market. Each day, I analyze hundreds of ETFs to uncover potential trading and investment opportunities using a broad range of market factors. For short-term trading, I rely heavily on technical analysis, including price channels, momentum indicators, support and resistance levels, trend patterns, and other market signals. At the same time, I dedicate significant attention to evaluating ETFs from a long-term investment perspective. My objective is to build a well-balanced ETF portfolio that combines core investment holdings with more tactical and speculative positions. The goal is to create a portfolio that can participate effectively in market rallies while also remaining resilient during periods of volatility and market corrections.

Industry description