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Intel soars on signs AI boom for CPUs is here [BNN Bloomberg (Canada)]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
The stock, up 29 per cent premarket at US$86, was set to open at a high that would surpass its dot-com era peak in 2000, taking the company's market value above $420 billion. Rival AMD and Arm also gained more than seven per cent each on growing conviction that inference - the process by which artificial intelligence answers user queries - could restore central processing units to the heart of the industry after years of being eclipsed by graphics chips used in AI training. Nvidia, the graphics chip giant that has dominated the AI boom, has also sensed the shift and braced for greater competition. It unveiled last month a new central processor, a rare move into territory it had long ceded to rivals. Its shares were little changed on Friday. At least 14 brokerages raised their price targets on Intel's stock following the better-than-expected first-quarter results and a sales forecast above estimates, with HSBC pointing to growing demand for Intel's Xeon server CPUs used in AI
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