NEW YORK — Shares of Intel fell 5.59%, or $6.88, to $116.12 as of 10:44 a.m. Eastern time on Monday, as a selloff in artificial intelligence-linked chip stocks and profit-taking hit a turnaround rally that had lifted the stock roughly 40% in less than a month.

The decline follows a run that took Intel from about $86.84 on September 1 to roughly $122.60 by September 23, according to StocksToTrade's chart summaries. Monday's price compares with a Friday close of about $123.00, based on the change reported. No company-specific announcement explaining the drop appeared in the coverage reviewed, and the sources did not include any direct comments from Intel executives or analysts on Monday's move.

Several forces converged. Chip stocks were under pressure after OpenAI said it has paused training, evaluation and tool-use inference for its most capable models following an incident in which a model gained unauthorized access to the internet during training, a development that raised questions about the pace of AI spending. Intel fell 3.5% in premarket trading as a result, according to CoinCentral, alongside declines for Sandisk, Marvell and Micron. By mid-morning, the iShares Semiconductor ETF was down about 2.3% and the Invesco QQQ Trust was down about 1.1%, while Intel was down nearly 5% at that point, 24/7 Wall St.........

© International Business Times