Intel (INTC) shares climbed on Tuesday after CEO Lip-Bu Tan said the company plans to build graphics processing units (GPUs) to rival Nvidia. “I just hired the chief GPU architect, and he’s very good. ‌I’m very delighted he joined me,” Tan said, claiming that it took some persuading. INTC stock rose an overall fraction of a percent on Tuesday as of market close, but the stock is up over 12% in the last five days.

The architect the Intel CEO was referring to is former Qualcomm executive Eric Demmers, who last ‌month went to Intel. In an interview with Reuters on the sidelines of the Cisco AI Summit, Tan said the GPU effort will target data centers, where Nvidia has built a massive business ⁠in recent years, and that ‌Demmers will report to Intel’s data center chip chief Kevork Kechichian. “It’s tied in with the data center,” Tan told Reuters. “We’re working with customers, and ‍will then define what the customer needs.”

Over the past year, Intel (INTC) has been one of the best AI and overall tech stocks on the market. It has outperformed the likes of Nvidia, Microsoft, and AMD in that span, including in 2026 so far. Intel stock is a must-watch as the equity has more upside potential. As a result, several firms and stock experts have issued bullish forecasts for INTC, even before the bullish GPU news.

Also Read: Strategy’s 8-Month Decline: Sell Now Before MSTR Hits Sub-$100?

The latest price prediction from Trader Union, a stock analytical firm, estimates that Intel could deliver robust performance in Q1 of 2026. The latest and revised price prediction projects INTL could reach a high of $63 in March 2026. On the other hand, some Wall Street firms remain far more cautious and even bearish in some cases. Recent updates show no upgrades, with analysts like Rosenblatt and JP Morgan maintaining their existing ratings. Loop Capital initiated coverage with a Hold rating, setting a $25 price target.