That majority shareholder is Intel Corp. which is struggling to get back on track after a series of technological missteps. Intel is also in the midst of a costly bid to regain manufacturing leadership and to serve as a foundry that makes chips for other semiconductor companies.

Intel stock (NASDAQ: INTC) is trading at about $19 per share, its lowest point in over a decade. Could the stock rise by over 3x per share in the next few years? Does this sound a bit ridiculous? Consider this - Intel stock was trading at levels of about $60 per share just about three years ago.

Shares of Intel are surging before the opening bell after the chipmaker said its foundry business would make some custom artificial intelligence chips for Amazon Web Services as it attempts to reinvigorate its business.