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.

Intel has announced a planned co-investment with Amazon Web Services in custom chip designs .The partnership reaffirms Intel's commitment toconstructingits

U.S. equities were higher around midday as August retail sales were higher than anticipated and the Fed began its two-day policy meeting.