Intel Stock (NASDAQ:INTC)
After holding an investor event centered on its data center business and making various chip-related announcements, including timetables for future products, Intel stock skyrocketed by more than 7% during the middle of the trading day.
In a presentation, Intel (NASDAQ:INTC) stated that the fourth-generation Xeon chip, used for data centers, had more than 450 design wins, the most ever for a Xeon chip. It was being shipped by more than 50 original equipment manufacturers and original design manufacturers. This was the most ever for a Xeon chip.
The chip of the fourth generation had been delayed, which allowed AMD to gain market share.
In reaction to the news, investors bought almost 1.5% more shares of AMD.
According to Intel, the release of the 5th-generation Xeon, which was formerly known under the codename Emerald Rapids, is scheduled for the fourth quarter of this year.
In addition, the high-power chips developed by the corporation and referred to as Sierra Forest is expected to be shipped within the first part of 2024. Granite Rapids, the next-generation chip that is now being tested by clients and will be made available to the public in 2024, is likewise on the release schedule.
In addition, Intel, which has its headquarters in Santa Clara, California, said that the next edition of their low-power processor, which is referred to as Clearwater Forest, would be released in 2025.
The firm also said that it was working on the Intel Developer Cloud, which has the potential to make artificial intelligence accessible to “everyone” by enabling developers to train and test new models.
It was requested earlier this week that Intel and other semiconductor firms begin providing financial predictions for projects eligible to receive financing from the United States Children’s Health Insurance Program (CHIPs Act).
Featured Image: Freepik
Author Shariq Khan 
