Intel (INTC) shares had jumped 7.2% by noon trading on Wednesday, following the revelation yesterday that the chipmaker had successfully shipped its first products using the 18A manufacturing process, specifically the Panther Lake chips branded as Intel Core Ultra Series 3.
Intel’s first Panther Lake line, Core Ultra Series 3, will power more than 200 PC designs. Pre-orders began on January 6, and a global rollout will begin on January 27. Additional designs are slated for release throughout the first half of 2026. Edge systems powered by Intel Core Ultra Series 3 will be available starting during the first quarter of 2026.
The Core Ultra 3 Series delivers up to 180 TOPS and is capable of handling a 70B parameter model. Given the performance, privacy, security, cost efficiency, and data control concerns around the cloud, it makes a strong case for localized computing.
Melius Research upgraded Intel to Buy from Hold and set a $50 price target on the stock.
“We really like Lip-Bu Tan, but more importantly, more powerful people like President Trump, Secretary Lutnick, Jensen Huang and even Lisa Su like him even more as a business partner,” said Melius analyst Ben Reitzes in an investor note.
Intel also confirmed this week it is working on a new processor dedicated to gaming, along with a new gaming platform, which will include both hardware and software.
Other semiconductor stocks demonstrated mixed action during Wednesday market trading. AMD (AMD) was down 1.5%, while rival Nvidia (NVDA) was up 1.5%. Taiwan Semiconductor Manufacturing (TSM) had edged down 2%. Skyworks Solutions (SWKS) had sunk 11%, while Broadcom (AVGO) had inched up 1%. Marvell (MRVL) and Qualcomm (QCOM) were down 4% and 2%, respectively.