- Tesla Gains After Analyst Rating Update
May 11, 2026
This article first appeared on GuruFocus.
Tesla (TSLA, Financials) remained in focus after a new investment bank analyst rating update added to growing Wall Street attention around the electric vehicle maker.
Warning! GuruFocus has detected 8 Warning Signs with TSLA. Is TSLA fairly valued? Test your thesis with our free DCF calculator.
Shares climbed more than 4% as investors continued betting on Tesla's long-term opportunities in artificial intelligence, autonomous driving and robotaxi technology.
The stock has also benefited from improving sentiment around future AI-related revenue streams, including autonomous ride-hailing services and software expansion.
Tesla remained among the market's most actively traded stocks, alongside major semiconductor and AI names such as Nvidia and AMD.
Investors are closely watching upcoming developments tied to Tesla's robotaxi rollout, Full Self-Driving progress and global vehicle demand as the company pushes deeper into AI-driven transportation.
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- Qualcomm Stock Is Rising. Why the Chip Stock Hit a Record High.
May 11, 2026
Qualcomm stock surged Monday, notching its first record closing high since 2024 as enthusiasm around AI chips and data-center demand continues to build.
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- Stock Market Today: Dow Up As Trump Gives Iran Warning; Michael Burry Says This As Micron Soars (Live Coverage)
May 11, 2026
The Dow Jones index rose on the stock market today after President Trump delivered an Iran warning. Intel and Micron were winners. Michael Burry spoke out.
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- Qualcomm Stock Just Doubled: Breakout or Blow-Off?
May 11, 2026
Over the last few years, a number of the world's leading semiconductor stocks have enjoyed powerful price appreciation as the AI boom dramatically expanded demand for various forms of silicon. Nvidia (NVDA) and Broadcom (AVGO) have powered hundreds of percent higher over that stretch, while memory players like Micron Technology (MU) and Sandisk (SNDK) having surged 800% and 3,700% respectively in just the last year alone.
But there has been a notable laggard in the semiconductor space, one that powered the mobile revolution and has quietly pivoted its business in recent years to successfully penetrate the automotive market. Over the last year, the company also made clear its intention to enter the AI infrastructure race, pointing to an impending data center deal and continued promise of edge computing dominance. Few paid much attention.
Now, Qualcomm (QCOM) has sucked up all the air in the room. Its stock price has rocketed to new all-time highs, nearly doubling in just the last few weeks. What shifted, if anything? Or are investors simply paying attention to what Qualcomm has been saying all along?
It appears to be a convergence of several key developments, arriving in rapid succession.Zacks Investment Research
Image Source: Zacks Investment Research
QCOM Stock Rally Starts on the OpenAI Catalyst
The spark that lit the fuse came in late April, when it was reported that Qualcomm was set to partner with OpenAI and MediaTek to develop smartphone processing chips. Shares surged as much as 13% in premarket trading on the news alone. What made the report so powerful wasn't just the deal itself, but the narrative reframing. In a single headline, Qualcomm went from "legacy mobile chip company losing its biggest customer" to "edge AI platform positioned at the center of the next computing paradigm." That kind of perception shift is exactly what drives multiple expansion.
Q2 Earnings Push QCOM Shares Higher Again
If the OpenAI rumor lit the match, the Q2 earnings report poured gasoline on it. Qualcomm reported $10.6 billion in revenue and $2.65 in non-GAAP EPS, both ahead of estimates. The stock surged 15% in the session.
But the headline numbers weren't what made investors take notice. The real bombshell was Qualcomm's disclosure of its first custom silicon deal with a still unknown major hyperscaler, with initial shipments expected to begin in the December 2026 quarter. This represents an entirely new total addressable market for the company — one that, until now, has been the exclusive domain of Nvidia, AMD, and Broadcom. If Qualcomm can establish a credible foothold in data center inference silicon, the valuation framework for the stock changes dramatically.
Story Continues
Management also announced a $20 billion share repurchase authorization, signaling confidence in the trajectory and putting a meaningful floor under the stock.
Automotive Is No Longer a Side Story
Lost somewhat in the AI excitement is the fact that Qualcomm's automotive business is becoming a serious growth engine in its own right. Automotive revenue hit a record $1.33 billion in the quarter, up 38% year-over-year, and management guided for approximately 50% year-over-year growth in Q3. The company crossed a $5 billion annualized automotive revenue in Q2 and expects to exit fiscal 2026 above $6 billion annually.
The fifth-generation Snapdragon Digital Chassis platform, which management described as delivering 3x higher CPU throughput and 12x higher NPU performance versus the prior generation, is being designed into vehicles across the industry. This is sticky, high-margin revenue with long design cycles, exactly the kind of business that supports a premium multiple.
The Edge AI Thesis
The broader bull case for Qualcomm rests on a structural argument about where AI inference is heading. Today's AI ecosystem runs on centralized compute as workloads are concentrated in data centers, routed through the cloud, and processed at scale by GPUs. That could ultimately shift. Routing every inference through the cloud is costly, latency-heavy, and power-intensive.
The next phase of AI may move inference to the edge: smartphones, vehicles, IoT devices, PCs, and industrial equipment. Qualcomm's Snapdragon architecture is already embedded in billions of these devices. If on-device AI becomes a significant, or even the dominant inference paradigm, Qualcomm may be the single best-positioned chipmaker in the world for that shift.
This is the thesis the market is beginning to price in, and it explains why the stock has rerated so violently.
Geopolitical Tailwind: A Seat at the Table
As if the fundamental catalysts weren't enough, Qualcomm just picked up a geopolitical tailwind as well. CEO Cristiano Amon announced he will join President Trump during his upcoming visit to China, representing Qualcomm and what the company described as "the strength of American technology leadership on the global stage."
That's a symbolically significant move. Qualcomm has long had deeper ties to the Chinese handset ecosystem than nearly any other US chipmaker — its Snapdragon processors power devices from Xiaomi, Oppo, Vivo, and other major Chinese OEMs. Having a direct seat at the table during high-level trade discussions positions Qualcomm favorably within the current domestic technology policy regime, where the White House has been actively championing American semiconductor companies as strategic national assets.
With the US pursuing a policy framework that incentivizes domestic chip innovation while selectively engaging with China on commercial technology, Qualcomm sits in a unique position, with one foot in the American industrial policy apparatus, the other in the world's largest smartphone market. If sustained engagement translates into more favorable licensing terms, expanded market access, or clearer regulatory guardrails, the financial impact could be material. That said, deeper China engagement cuts both ways. Qualcomm's outsized exposure to Chinese OEMs means it's also potentially vulnerable if trade relations deteriorate or if future export restrictions tighten, which is a risk that has materialized before and could again.
It also reinforces the narrative shift underway. Qualcomm is positioning itself as a pillar of American technology infrastructure, with relevance spanning wireless standards, 6G development, AI, and advanced computing. That's the kind of framing that attracts institutional capital.
The Risks: What Could Go Wrong
A stock that has nearly doubled in a matter of weeks on a narrative shift deserves a sober look at what could derail the thesis. There are three key risks worth weighing.
The most well-known is Apple. The transition away from Qualcomm modems has been underway for years, and CFO Akash Palkhiwala confirmed on the earnings call that Qualcomm's share in this fall's iPhone launch is approximately 20%, with no product relationship beyond that. UBS has estimated this represents a $4 to $5 billion annual revenue headwind from the calendar 2026 baseline. That's real money, but it's also arguably the most priced-in risk in the entire semiconductor space. The market has had years to digest this transition, and the fact that Qualcomm has rallied this aggressively despite the overhang suggests investors are looking through it. The bear case on Apple is valid, but it's not new information.
The more consequential risk may be execution on the hyperscaler data center opportunity. Qualcomm disclosed a multi-generation custom silicon deal with a major hyperscaler, but details remain thin. Shipments aren't expected until the December 2026 quarter, and the company has yet to quantify the revenue opportunity in concrete terms. The data center inference market is fiercely competitive with Nvidia, AMD, and Broadcom all boasting entrenched positions, and hyperscalers themselves are investing heavily in custom silicon. Qualcomm has credible technology, but credible technology and winning market share are two very different things. If the data center ramp underwhelms or timelines slip, the premium the market has assigned to this optionality could unwind quickly.
Finally, there's the edge AI narrative itself. The thesis that AI inference will migrate from centralized data centers to billions of connected devices is intellectually compelling, but it remains largely a forward-looking story. The monetization path for on-device AI is still taking shape, and it's unclear how much incremental revenue Qualcomm can capture beyond what it already earns from selling Snapdragon processors into smartphones and vehicles. If edge AI turns out to be more evolutionary than revolutionary for Qualcomm's financials, the current multiple may prove difficult to sustain.
Qualcomm Valuation: Expensive or Just Catching Up?
Qualcomm's earnings multiple has expanded rapidly amid this rally, moving from roughly 16x forward earnings to 27.4x today. That's a significant rerating in a short period of time, but context matters. QCOM still trades at a notable discount to the semiconductor industry average of 41x.
Historically, Qualcomm and its semiconductor peers have traded at a median 18x forward earnings multiple over the last decade, with the AI boom layering on a substantial premium in recent years. By that standard, QCOM's current multiple is elevated relative to its own history but still well below where the market has been willing to value peers with credible AI exposure. The question is whether Qualcomm continues to close that gap, or whether this rerating has already priced in the upside.
There's another dimension to the valuation picture worth considering: the "E" in the P/E. If these new catalysts prove durable, analysts will likely begin revising earnings estimates higher. Multiple expansion driven by rising estimates is far more sustainable than multiple expansion alone. Today, Qualcomm carries a Zacks Rank #3 (Hold), meaning estimate revisions haven't yet turned decisively positive. That's something to monitor closely in the weeks ahead.Zacks Investment Research
Image Source: Zacks Investment Research
What is Next for Qualcomm Stock
Qualcomm's June 24 Investor Day is the next major catalyst. Management is expected to quantify the data center opportunity and provide more detail on the hyperscaler relationship. If they can credibly size a multi-billion-dollar revenue opportunity in data center inference silicon, the stock likely has room to run. If the details disappoint, profit-taking after a 70% move would be entirely rational.
The setup is compelling, but the stock has already moved a long way on promise rather than proof. Qualcomm has spent years building toward this moment. Whether the next chapter validates the rally or exposes it as premature depends entirely on execution from here.
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This article originally published on Zacks Investment Research (zacks.com).
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- CN Expands Certified Rail-Ready Site Program with New Industrial Development Opportunities
May 11, 2026
Canadian National Railway Company
MONTREAL, May 11, 2026 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) today announced that it will be adding five new industrial development sites to its Certified Rail-Ready Sites program, and re-certifying six of its existing U.S sites across the Company’s network.
These eleven sites will be certified through CN’s new partnership with the Site Selectors Guild’s REDI Sites program, an industry-recognized certification framework designed to bring greater rigor, consistency, and credibility to industrial site readiness.
“Industrial development decisions require speed, certainty, and long-term infrastructure confidence. CN’s Certified Rail-Ready Sites program helps businesses move more quickly from site selection to operations by identifying strategic, rail-served locations that are ready for investment and connected to markets across North America.”
- Janet Drysdale, Executive Vice-President and Chief Commercial Officer, CN
“In today’s environment, readiness is a competitive advantage. CN is leaning into that by advancing sites through the REDI Sites designation process, bringing greater rigor, consistency, and credibility to how its portfolio is positioned. Companies want clear information and fewer surprises, and REDI’s independent review helps deliver that confidence.”
- Didi Caldwell, President & CEO, Global Location Strategies and REDI Sites Board Chair.
CN’s Certified Rail-Ready Sites program identifies and pre-qualifies strategic industrial locations with direct access to CN’s network. Sites are evaluated based on key criteria, including zoning, environmental considerations, utility availability, and transportation infrastructure, helping reduce development risk and accelerate project timelines for businesses and investors. CN also works with qualified consulting and engineering firms to support the certification process and strengthen site marketing efforts.
The five new sites submitted for certification include:
Michigan AMD, Genesee County, MI – 1,400 acres Buick City – RACER Trust, Burton, MI – 55 acres Carbondale Site, Jackson County, IL – 100 acres Leatherman Site, DeSoto County, MS – 190 acres Willow Glen Site, Iberville Parish, LA – 500 acres
The six rail-served sites that will be re-certified include:
Enterprise Park at Fulton, Fulton KY - 53 acres Helena Industrial Complex, Jackson County MS - 46 acres Mattoon Prairie Industrial Park, Coles County IL - 420 acres MEC Smart Park, Cassopolis MI - 70 acres NW TN Regional, Obion County TN - 296 acres Rialto Industrial Park, Covington TN - 146 acres
CN’s Certified Rail-Ready Sites are strategically located across key industrial regions in Canada and the United States and are supported by CN’s broader network of transload and distribution facilities, helping connect businesses to markets across North America.
Story Continues
About CN
CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada’s Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.
Contacts:
Media Investment Community Ashley Michnowski Jamie Lockwood Senior Manager Vice-President Media Relations Investor Relations and Special Projects (438) 596-4329 (514) 399-0052 media@cn.ca investor.relations@cn.ca
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- Le CN élargit son programme de sites de développement ferroviaire et de nouvelles possibilités de développement industriel
May 11, 2026
MONTRÉAL, 11 mai 2026 (GLOBE NEWSWIRE) -- Le CN (TSX : CNR) (NYSE : CNI) a annoncé aujourd’hui l’ajout de cinq sites industriels à son programme de sites de développement ferroviaire et la recertification de six de ses sites américains existants sur l’ensemble du réseau de la Compagnie.
Ces onze sites seront certifiés grâce au nouveau partenariat du CN avec le programme REDI Sites de la Site Selectors Guild, un cadre de certification reconnu par l’industrie et conçu pour apporter plus de rigueur, de cohérence et de crédibilité à l’évaluation de la préparation des sites industriels.
« Les décisions en expansion industrielle exigent rapidité, certitude et confiance dans les infrastructures à long terme. Le programme de sites de développement ferroviaire du CN aide les entreprises à passer plus rapidement de la sélection d’un site à l’exploitation grâce au repérage de lieux stratégiques desservis par rail dans lesquels il est possible d’investir et qui sont connectés aux marchés de l’Amérique du Nord. »
- Janet Drysdale, vice-présidente exécutive et cheffe de la direction des Affaires commerciales
« Dans le contexte actuel, la préparation est un avantage concurrentiel. Le CN mise sur cet atout pour que ses sites progressent grâce au processus de désignation des sites REDI. Cela confère à son portefeuille une rigueur, une cohérence et une crédibilité accrues. Les entreprises veulent de l’information claire et moins d’imprévus. L’examen indépendant de REDI contribue à leur apporter cette confiance. »
- Didi Caldwell, président et chef de la direction de Global Location Strategies et président du conseil d’administration de REDI Sites
Le programme de sites de développement ferroviaire du CN permet de localiser et de préqualifier les sites industriels stratégiques ayant un accès direct au réseau du CN. Les principaux critères d’évaluation des sites sont notamment le zonage, les facteurs environnementaux et la disponibilité des services publics et les infrastructures de transport. Ainsi, les risques liés à l’expansion et les délais des projets diminuent pour les entreprises et les investisseurs. Le CN collabore aussi avec des cabinets d’experts-conseils et d’ingénierie qualifiés pour soutenir le processus de certification et renforcer les efforts de marketing des sites.
Les cinq nouveaux sites soumis à la certification sont les suivants :
Michigan AMD, Genesee County (MI) – 1 400 acresBuick City – RACER Trust, Burton (MI) – 55 acresCarbondale Site, Jackson County (IL) – 100 acresLeatherman Site, DeSoto County (MS) – 190 acresWillow Glen Site, Iberville Parish (LA) – 500 acres
Les six sites desservis par rail qui seront recertifiés sont les suivants :
Enterprise Park à Fulton, Fulton (KY) – 53 acresComplexe industriel d’Helena, Comté de Jackson (MS) – 46 acresParc industriel de Mattoon Prairie, Comté de Coles (IL) – 420 acresMEC Smart Park, Cassopolis (MI) – 70 acresParc industriel régional NW TN, Comté d’Obion (TN) – 296 acresParc industriel Rialto, Covington (TN) – 146 acres
Les sites de développement ferroviaire du CN sont stratégiquement situés dans les principales régions industrielles du Canada et des États-Unis. Ils bénéficient du vaste réseau d’installations de transbordement et de distribution du CN. Cela contribue à relier les entreprises aux marchés de l’Amérique du Nord.
À propos du CN
Le CN propulse l’économie en acheminant annuellement en toute sécurité plus de 300 millions de tonnes de ressources naturelles, de produits manufacturés et de produits finis partout en Amérique du Nord pour ses clients. Grâce à son réseau ferroviaire de près de 20 000 milles et à ses services de transport connexes, le CN relie les côtes est et ouest du Canada au Midwest aux États-Unis et à la côte du Golfe des États-Unis, contribuant au commerce durable et à la prospérité des collectivités qu’il dessert depuis 1919.
Sources:
MédiasInvestisseursAshley MichnowskiJamie LockwoodDirectrice principaleVice-présidentRelations avec les médiasRelations avec les investisseurs et Projets spéciaux438 596-4329
media@cn.ca514 399-0052
investor.relations@cn.ca
- CN Expands Certified Rail-Ready Site Program with New Industrial Development Opportunities
May 11, 2026
MONTREAL, May 11, 2026 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) today announced that it will be adding five new industrial development sites to its Certified Rail-Ready Sites program, and re-certifying six of its existing U.S sites across the Company’s network.
These eleven sites will be certified through CN’s new partnership with the Site Selectors Guild’s REDI Sites program, an industry-recognized certification framework designed to bring greater rigor, consistency, and credibility to industrial site readiness.
“Industrial development decisions require speed, certainty, and long-term infrastructure confidence. CN’s Certified Rail-Ready Sites program helps businesses move more quickly from site selection to operations by identifying strategic, rail-served locations that are ready for investment and connected to markets across North America.”
- Janet Drysdale, Executive Vice-President and Chief Commercial Officer, CN
“In today’s environment, readiness is a competitive advantage. CN is leaning into that by advancing sites through the REDI Sites designation process, bringing greater rigor, consistency, and credibility to how its portfolio is positioned. Companies want clear information and fewer surprises, and REDI’s independent review helps deliver that confidence.”
- Didi Caldwell, President & CEO, Global Location Strategies and REDI Sites Board Chair.
CN’s Certified Rail-Ready Sites program identifies and pre-qualifies strategic industrial locations with direct access to CN’s network. Sites are evaluated based on key criteria, including zoning, environmental considerations, utility availability, and transportation infrastructure, helping reduce development risk and accelerate project timelines for businesses and investors. CN also works with qualified consulting and engineering firms to support the certification process and strengthen site marketing efforts.
The five new sites submitted for certification include:
Michigan AMD, Genesee County, MI – 1,400 acresBuick City – RACER Trust, Burton, MI – 55 acresCarbondale Site, Jackson County, IL – 100 acresLeatherman Site, DeSoto County, MS – 190 acresWillow Glen Site, Iberville Parish, LA – 500 acres
The six rail-served sites that will be re-certified include:
Enterprise Park at Fulton, Fulton KY - 53 acresHelena Industrial Complex, Jackson County MS - 46 acresMattoon Prairie Industrial Park, Coles County IL - 420 acresMEC Smart Park, Cassopolis MI - 70 acresNW TN Regional, Obion County TN - 296 acresRialto Industrial Park, Covington TN - 146 acres
CN’s Certified Rail-Ready Sites are strategically located across key industrial regions in Canada and the United States and are supported by CN’s broader network of transload and distribution facilities, helping connect businesses to markets across North America.
About CN
CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada’s Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.
Contacts:
MediaInvestment CommunityAshley MichnowskiJamie LockwoodSenior ManagerVice-PresidentMedia RelationsInvestor Relations and Special Projects(438) 596-4329(514) 399-0052 media@cn.ca investor.relations@cn.ca
- Stock Market Today: Dow Up; Intel Gain Reaches 260%; Dividend Play Tests Entry (Live Coverage)
May 11, 2026
The Dow Jones index is steady on the stock market today after President Trump rejects an Iran proposal. Intel and Micron are winners.
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- What's Going on With AMD Stock?
May 11, 2026 · fool.com
AMD (AMD +0.73%) is gaining market share in the lucrative data center industry.
- AMD and Intel lead 2026 gains as AI guard changes
May 11, 2026
For the past three years, one name swallowed nearly all the oxygen in the artificial intelligence trade: Nvidia.
Its graphics processing units (GPUs) became the gold standard for training the AI models that power everything from ChatGPT to corporate chatbots.
But something has shifted.
Investors are piling into companies that barely registered on the AI radar in 2023. And the companies leading the charge this year are the ones most people had written off, or at least overlooked.
In 2026, AMD and Intel are the hottest names in semiconductors. Let’s dive deeper.
CPUs are back and bigger than ever
Here's the simple version of what's happening.
When AI was all about building massive models, GPUs dominated. But now, the focus is shifting toward running those models in the real world, which the industry calls "inference."
And the focus is increasingly shifting toward AI agents: software that takes actions, makes decisions, and orchestrates other AI tools automatically.
That shift puts central processing units back in the driver's seat. CPUs handle the orchestration layer or the traffic management of an AI system.
AMD (AMD) CEO Lisa Su made this case bluntly on the company's first-quarter 2026 earnings call.
She now expects the server CPU market to grow more than 35% annually, reaching over $120 billion by 2030.
"Based on the demand signals we are seeing today and the structural increase in CPU compute requirements driven by Agentic AI, we now expect the server CPU TAM to grow at greater than 35% annually, reaching over $120 billion by 2030," Su stated.
Her projections have doubled over the past six months, which is exceptional.
AMD's numbers back that up.
Revenueclimbed 38% year-over-year to $10.3 billion in Q1. Data center revenue hit a record $5.8 billion — up 57% from a year ago. Free cash flowtripled to $2.6 billion.AMD CEO Lisa Su is optimistic about long-term tailwinds.Caroline Brehman /Getty Images)
The broader AI trade is getting wider
This is what Mizuho analyst Jordan Klein called a "changing of the guard in AI."
Since ChatGPT launched in late 2022, Nvidia has been the undisputed winner of the AI infrastructure boom.
But NVDA stock is up only about 15% in 2026. Meanwhile, AMD and Intel each surged112% and 240%, respectively, year to date.
The logic is straightforward. Data centers need more than just GPUs. They need memory, cables, networking gear, and yes, a lot more CPUs.
More AI:
Micron sits at the center of a red-hot chip rally IBM CEO sends blunt message on AI and quantum computing Anthropic CEO makes shocking admission about AI
Investors are betting this buildout has years to run, and that the spending will ripple out well beyond Nvidia.
Story Continues
Memory has become one of the hottest sub-themes. Global supply is tight, and prices are rising.
Micron stock crossed the $800 billion market cap threshold for the first time, CNBC reported. Micron's CEO told CNBC in March that major customers are receiving only half to two-thirds of what they actually need.
Corning, which celebrates its 175th anniversary this year, also just inked a deal giving Nvidia the right to invest up to $3.2 billion in the company for optical fiber technology, CNBC noted.
Intel's unlikely comeback story
Intel's resurgence is perhaps the most striking part of 2026's chip market story.
For years, Intel fell behind and seemed to have missed the AI wave. It lost ground to AMD in data center CPUs, while wrestling with manufacturing tailwinds.
Now Intel CEO Lip-Bu Tan is making the case that the worst is over.
Q1 revenue came in at $13.6 billion, which was $1.4 billion above the midpoint of its own guidance. Its data center and AI (DCAI) segment grew 22% year over year. The company also signed a long-term supply agreement with Google.
Xeon server CPUs are in short supply, with demand running well ahead of what Intel can currently produce.
Related: Apple reaches chipmaking deal with Intel, pushing its stock to new record
Tan said the ratio of CPUs to GPUs in AI deployments, once as lopsided as one CPU for every eight GPUs in training setup, is moving toward parity as inference and agentic workloads take hold.
Valued at a market cap of $628 billion, Intel stock is up a whopping 500% in the last 12 months.
INTC stock recently gained momentum on reports that Apple is in talks with Intel to manufacture chips for U.S. devices.
The Wall Street Journal later reported that the two companies reached a preliminary agreement.
One warning investors shouldn't ignore
Not everyone on Wall Street is bullish.
BTIG analyst Jonathan Krinsky noted that the magnitude of the semiconductor rally looks a lot like what happened in 1999, just before the dot-com bust, CNBC indicated.
He's warned of a potential 25% to 30% correction in the Philadelphia Semiconductor Index, which is up 66% so far this year, CNBC confirmed.
That doesn't mean the AI buildout is a bubble. But it does mean investors should be clear-eyed. These stocks have run hard.
The fundamentals are real, but so is the risk of overpaying. For now, Wall Street has decided AI is much bigger than one company. And AMD and Intel are making sure investors know it.
Related: Analysts turn heads with AMD stock forecast after massive rally
This story was originally published by TheStreet on May 11, 2026, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.
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