JPMorgan upgrades Intel to Neutral and Tesla signs foundry deal on Intel’s 14A process
+1 new source since this summary was written
JPMorgan raised its rating on Intel (INTC) from Underweight to Neutral and kept a price target of $85. The upgrade was driven by perceived improvements in Intel’s manufacturing execution and AI‑related demand. In the same announcement, Intel disclosed a chip‑manufacturing agreement with Tesla (TSLA) to use Intel’s forthcoming 14A process, while noting that its 18A node is already ahead of internal production targets. The news sent Intel shares up roughly 4% in pre‑market trading.
Why it matters
The rating upgrade may improve investor sentiment and support the recent 4% pre‑market price gain. The Tesla foundry agreement provides a high‑profile external customer for Intel’s advanced‑node business, potentially boosting future foundry revenue.
Key facts
- 1JPMorgan upgraded Intel from Underweight to Neutral and maintained a price target of $85.00. investing.com
- 2Intel shares rose about 4% in pre‑market trading following the upgrade. investing.com
- 3Intel announced an agreement with Tesla to manufacture chips using Intel’s forthcoming 14A process. finance.yahoo.com
- 4Intel reported that production on its 18A node is running ahead of internal targets. finance.yahoo.com
- 5Analyst Harlan Sur cited a more balanced risk‑reward profile and AI tailwinds as reasons for the upgrade. investing.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.