Intel (NASDAQ:INTC) Rises after Revealing Its Processors Can Handle AI – TipRanks.com

With all eyes turning to artificial intelligence (AI) these days, developments in this sector are closely watched by investors. Chip stock Intel (NASDAQ:INTC) just made a big play, revealing that its processors are powerful enough for AI. This revelation sent shares on an upward cant, gaining modestly in Friday afternoon’s trading.

The latest reports note that the Intel Core Ultra processor line is now sufficient to supply infrastructure for over 500 different AI models. Even Intel calls this a “significant milestone,” and demonstrates that the firm is certainly in the hunt to bring out the best platform for AI use on PCs. When asked about how it pulled off such a feat, Intel cited its focus on AI tools, as well as client AI, the OpenVINO toolkit strong among them.

It’s unclear how far Intel’s competitors have reached on this front as neither Qualcomm (NASDAQ:QCOM) nor AMD (NASDAQ:AMD) have released similar information yet. However, it probably won’t take long to find out, as this is a first-mover advantage that neither will want Intel to hold for long.

Happy (Belated) World Password Day!

Meanwhile, yesterday was an anniversary that none of us really should forget, but most of us probably did. Along with the subject of the day itself, unfortunately. May 2 is World Password Day, which Intel started up back in 2013 as a way to draw awareness to online passwords and the need to strengthen them.

Today, passwords are somewhat less of a problem than they once were, thanks to password managers built right into web browsers. But there was once a time when that wasn’t so, and World Password Day calls attention to that development. And remember, as Mel Brooks once made clear way back in the eighties, “12345” is still the kind of password that an idiot would have on his luggage. So don’t use it on your email account. Or anywhere else, really.

What Is the Prediction for Intel Stock?

Turning to Wall Street, analysts have a Hold consensus rating on INTC stock based on four Buys, 23 Holds, and four Sells assigned in the past three months, as indicated by the graphic below. After a 0.29% loss in its share price over the past year, the average INTC price target of $39.92 per share implies 29.27% upside potential.

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