Nvidia takes on Intel and AMD's turf with its AI-powered PCs

JPMorgan upgraded Intel (INTC) from Underweight to Neutral with a $85 price target. The stock has fallen 36% from its June peak but is up 143% year-to-date. Intel's market share in server and PC CPUs has declined, but JPMorgan notes improvements in execution and manufacturing. Analysts predict profitability in 2026 with earnings of $1.51 per share. Other analysts have raised or initiated price targets, citing partnerships and AI-driven demand.

ByteDance is reportedly close to a deal with MediaTek to buy custom AI chips, as US export rules restrict access to Nvidia's best chips. MediaTek, known for phone processors, aims to capture 15% of the custom AI chip market by 2027. ByteDance plans to diversify its chip suppliers, including Nvidia and Qualcomm, to ensure its AI infrastructure needs are met. ByteDance's AI chatbot, Doubao, processes over 180 trillion tokens daily, driving significant data center spending.

Samsung agreed to NVIDIA's (NVDA) terms for HBM production, using TSMC's 3nm process. NVIDIA will supply AI infrastructure to Banco Santander. Morgan Stanley's CEO projected $10-12T AI data-center investment, boosting NVIDIA's data-center GPU demand. NVIDIA confirmed RTX 5090 production continues.

Nvidia's GTC conference in Berlin (Oct. 20-22) will feature CEO Jensen Huang announcing a $10 billion European AI investment plan. Key focuses include AI factories, Vera Rubin platform deployment, and partnerships with German companies like Siemens and Audi. Nvidia aims to expand its AI ecosystem in Europe, with potential government funding and startup investments.

Samsung Electronics plans to use TSMC's 3nm process for Nvidia's next-gen HBM chips, marking a first-time collaboration with its foundry rival. Nvidia requested Samsung, SK Hynix, and Micron to use TSMC's process for base dies and 6th-gen DRAM tech for core dies. Samsung will maintain its in-house production model for other products.

Nvidia denied discontinuing its RTX 5090 graphics card, despite its disappearance from retailers and a 4x price surge on secondary markets. The company acknowledged supply constraints, with reports suggesting GB202 silicon may be prioritized for AI and professional products. Nvidia's Jeff Fisher confirmed continued shipments but did not deny allocation shifts. A $470,000 shipment of RTX 5090 cards went missing in Brazil, adding to supply concerns.