Why Intel Stock Popped Today
Shares of Intel (NASDAQ: INTC) rose as much as 4.6% early Friday, then settled to trade up 1.7% as of 3:30 p.m. ET after the company announced a new generative artificial intelligence (AI) chip that could rival competitive offerings from Nvidia (NASDAQ: NVDA) and Advanced Micro Devices (NASDAQ: AMD).
Intel introduced several new chips at its AI Everywhere launch event in New York City on Thursday. But investors were arguably most excited after the company offered its first sneak peek at the new Intel Gaudi3 AI accelerator, a powerful chip focused on deep learning and large-scale generative AI models.
Intel says the Gaudi3 will offer a significant performance increase from its predecessor, the Gaudi2, that should make it competitive with rival AI accelerators already unveiled by both Nvidia and AMD. In its launch event press release yesterday, Intel added that it's enjoyed a "rapid expansion of its Guadi pipeline due to growing and proven performance advantages combined with highly competitive TCO [total cost of ownership] and pricing."
Source Fool.com
Intel Corp. Stock
Our community is currently high on Intel Corp. with 22 Buy predictions and 12 Sell predictions.
With a target price of 37 € there is a positive potential of 27.1% for Intel Corp. compared to the current price of 29.11 €.
