Intel Corporation (INTC)[Tv]

Key Developments

• Intel achieves volume production of its 18A manufacturing process, marking a pivotal technical breakthrough in its foundry revival and a critical step toward delivering advanced AI and data center chips – a foundational milestone for its IDM 2.0 strategy.
• Nvidia makes a strategic $5 billion investment in Intel, a rare validation of Intel’s turnaround, signaling strong ecosystem confidence and bolstering credibility in manufacturing and packaging (EMIB) as a viable alternative to TSMC’s CoWoS.
• Intel secures a landmark partnership with Apple to produce chips in the U.S., backed by a $7.86 billion CHIPS Act funding commitment and a White House 9.9% equity stake—transforming Intel into a national technological asset and accelerating its foundry ambitions.
• Citi upgrades Intel to a $130 price target, citing an 185% annual growth outlook for agentic AI workloads, reinforcing Intel’s repositioning as a critical CPU orchestrator in AI systems with Q1 DCAI revenue up 22%.
• Nvidia unveils RTX Spark and Vera Rubin CPU platforms, entering the CPU market directly and posing an existential threat to Intel’s core PC and data center dominance, triggering sharp declines in INTC stock despite its recent rally.