Intel could be an AI stock, Melius Research analyst Ben Reitzes writes in a research note.
Intel stock was rising Tuesday after a Melius Research analyst said in a note that investors should pay attention to the computer product and technology maker’s steps into artificial intelligence.
When investors think of AI, they tend to think of Nvidia and Advanced Micro Devices as the top two performers, Reitzes said. But Intel’s AI chip, Gaudi, has been making some noise recently and is one reason for Reitzes’ bullish view on the stock. “While Intel needs to continue to make software inroads, the potential for hundreds of millions in Gaudi revenue is not in street models,” Reitzes wrote in a research note Monday.
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