On Tuesday, Intel shares rose after CEO Lip-Bu Tan announced GPU plans to rival Nvidia. Tan said the effort targets data centers and follows hiring of a chief GPU architect.
“I just hired the chief GPU architect, and he’s very good. ‌I’m very delighted he joined me,” Tan said. The architect is former Qualcomm executive Eric Demmers, who joined Intel last month and will report to Kevork Kechichian.
Intel stock rose a fraction of a percent at Tuesday’s market close. The share price gained over 12% across the past five trading days.
Intel has been a strong AI and tech performer this past year and into 2026. A forecast from Trader Union projects a March 2026 high near $63.
Some Wall Street firms remained cautious, leaving ratings unchanged in recent updates. Both Rosenblatt and JP Morgan kept their prior ratings, while Loop Capital initiated coverage with a Hold rating and a $25 price target.
