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
Our community is currently low on Intel Corp. with 9 Buy predictions and 16 Sell predictions.
On the other hand, the target price of 19 € is above the current price of 18.42 € for Intel Corp., so the potential is actually 3.15%.
