Shares of Intel (INTC 5.11%) furthered its ascent on Wednesday, following a slew of positive developments for the chipmaker.
By the close of trading, Intel's stock price was up more than 6%.
Image source: Intel.
AI PCs will be powered by Intel
On Monday, Intel debuted its Core Ultra Series 3 processors, the first platform built on the semiconductor giant's 18A manufacturing process technology. The advanced chipsets will power new artificial intelligence (AI)-enabled personal computers (PCs). They promise significant gains in computing performance, graphics, and battery life.
Also on Monday, Melius Research analyst Ben Reitzes argued that Intel is well-positioned to grow its foundry business, thanks in part to President Trump's desire to bring chip manufacturing back to the U.S. In turn, Reitzes thinks Intel could win chip production orders from Nvidia, Apple, and even rival AMD in the coming years.
NASDAQ: INTC
Key Data Points
Intel wants to capture a larger share of the global gaming industry
On Tuesday, TechCrunch reported that Intel was developing a chip specifically designed to power handheld gaming devices. The new chips are expected to help Intel take share in a mobile gaming chip market that could exceed $45 billion by 2030, according to MarketResearch.com.
Investors can expect to hear more about these developments during Intel's fourth-quarter earnings call on Jan 22.
