Intel Jumps 8%, AMD Rises 4% on Bank of America’s $170 Billion Server-CPU Call

Intel Jumps 8%, AMD Rises 4% on Bank of America’s $170 Billion Server-CPU Call David Moadel Thu, June 11, 2026 at 9:18 PM GMT+7 5 min read INTC AMD NVDA ARM AVGO Quick Read Bank of America double-upgraded Intel and raised AMD s target, projecting the server CPU market reaches $170 billion by 2030 on agentic AI demand. Intel s consensus analyst target of $92 sits well below its current $115 price, while traders also watch NVIDIA for sympathy moves. Both stocks carry betas above 2 and bounced from a Broadcom-triggered selloff, with Intel and AMD still up 216% and 119% year to date. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and AMD didn t make the cut. Grab the names FREE today. Shares of Intel (NASDAQ:INTC) are up 8% to $115 and change in early Thursday trading, while Advanced Micro Devices (NASDAQ:AMD) stock is rising 4% to $470. Both chip names are rebounding after a rough stretch earlier this week. The catalyst is a bullish Bank of America research note projecting the total addressable market for server CPUs could expand to roughly $170 billion by 2030, fueled by agentic AI workloads. The call lifted both stocks at the open and is rippling across semiconductor peers. Intel stock now sits well above its 50-day moving average of $90.09, and AMD shares are clawing back ground after a steep pullback into Wednesday. The rebound is also being helped by traders adjusting portfolios ahead of the anticipated SpaceX IPO. Bank of America issued a double-upgrade of Intel stock to a Buy rating, with a price target of $135, citing improved earnings forecasts, better market visibility, and projected growth in server CPU sales. That move builds on recent target hikes from Wells Fargo at $110 and Barclays at $100. Intel s fundamentals support the bullish framing. Q1 2026 revenue came in at $13.58 billion, up 7% year over year, with the Data Center and AI segment delivering $5.05 billion, up 22% year over year. Intel CEO Lip-Bu Tan stated, "The next wave of AI will bring intelligence closer to the end user, moving from foundational models to inference to agentic." He confidently added, "This shift is significantly increasing the need for Intel s CPUs and wafer and advanced packaging offerings." Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and AMD didn t make the cut. Grab the names FREE today. At the Bank of America conference, Intel CFO David Zinsner asserted that the "CPU market will experience explosive growth due to AI" and that Intel has "more than enough demand to significantly increase its data center revenue if it can ramp up supply." He also flagged that the company s 18A process node is "moving into commercial-scale production." For AMD, Bank of America raised its price target to $560, highlighting AMD s position in the AI-driven server market. The firm pointed to a 122% year-over-year increase in data-center revenue as evidence of accelerating share gains. The latest results back the thesis. AMD s Q1 2026 revenue came in at $10.25 billion, up 38% year over year, with the Data Center segment posting $5.78 billion, up 57% year over year on EPYC and Instinct strength. AMD captured 33% of the server CPU market in Q1 2026, up 6 percentage points year over year. Advanced Micro Devices CEO Lisa Su declared, "We delivered an outstanding first quarter, driven by accelerating demand for AI infrastructure, with Data Center now the primary driver of our revenue and earnings growth." AMD stock trades at a forward P/E ratio of 68x, reflecting elevated expectations baked into the price. The context matters for today s share-price bounce. Intel stock pulled back sharply into Wednesday s close, and AMD stock also retreated after a difficult run for the chip sector. The broader semiconductor space was pressured earlier this week after Broadcom s (NASDAQ:AVGO) guidance miss, with Q3 AI chip guidance of $16 billion missing the $17.2 billion analyst expectation. Both Intel and AMD got caught in that wave, so today s move recovers losses rather than breaking out to new highs. Year to date, Intel stock is up 216% and AMD has gained 119%, so the longer-term momentum remains intact. That backdrop frames today s bounce as a continuation of a broader uptrend rather than a one-off reaction. Intel faces stiff competition from Arm (NASDAQ:ARM)-based designs and custom silicon, and the company is still working through execution challenges in its manufacturing and foundry business. Analyst price targets are opinions, not guarantees. Both Intel and AMD remain volatile names with betas above 2, meaning intraday swings can move sharply in either direction. The consensus analyst target on Intel stock sits at $92.17, well below where the stock is trading today, hinting that not every Wall Street desk shares Bank of America s enthusiasm. Investors may want to keep an eye on whether today s gains hold into the close, and whether peers like NVIDIA (NASDAQ:NVD

Intel Jumps 8%, AMD Rises 4% on Bank of America’s $170 Billion Server-CPU Call

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