Why Intel Stock Is Surging Today
(NASDAQ: INTC) stock is gaining ground Wednesday following the unveiling of two new artificial intelligence (AI) products. The company's share price was up 3.5% as of 12:30 p.m. ET. The semiconductor stock had been up as much as 5.5% earlier in the day.
Yesterday, Intel launched its Xeon 6 central processing unit (CPU) and its Gaudi 3 AI accelerator. The new chips are central to the next stages of the company's strategy to gain ground in the data center AI space.
Intel reports that its Xeon 6 processor delivers twice the performance of its predecessor and has been specifically tailored for artificial intelligence applications. Meanwhile, the company says that its Gaudi 3 AI accelerator offers a 20% throughput improvement and twice the performance on a price basis, compared to Nvidia's H100 for inference using Meta Platforms' LLaMA 2 70B large language model (LLM). The Gaudi 3 is still slower than Nvidia's H100 and H200, but its lower pricing and solid performance specs could help attract customers.
Source Fool.com
Intel Corp. Stock
Currently there is a rather negative sentiment for Intel Corp. with 15 Buy predictions and 18 Sell predictions..
This results in a negative potential of -36.31% based on a current price of 39.25 € and a target price of 25 € for the stock.
