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Intel unveiled its Core Ultra Series 3 processors.
The chip colossus is reportedly also making moves into the massive global gaming market.
Shares of Intel (NASDAQ: INTC) furthered its ascent on Wednesday, following a slew of positive developments for the chipmaker.
By the close of trading, Intel's stock price was up more than 6%.
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Image source: Intel.
On Monday, Intel debuted its Core Ultra Series 3 processors, the first platform built on the semiconductor giant's 18A manufacturing process technology. The advanced chipsets will power new artificial intelligence (AI)-enabled personal computers (PCs). They promise significant gains in computing performance, graphics, and battery life.
Also on Monday, Melius Research analyst Ben Reitzes argued that Intel is well-positioned to grow its foundry business, thanks in part to President Trump's desire to bring chip manufacturing back to the U.S. In turn, Reitzes thinks Intel could win chip production orders from Nvidia, Apple, and even rival AMD in the coming years.
On Tuesday, TechCrunch reported that Intel was developing a chip specifically designed to power handheld gaming devices. The new chips are expected to help Intel take share in a mobile gaming chip market that could exceed $45 billion by 2030, according to MarketResearch.com.
Investors can expect to hear more about these developments during Intel's fourth-quarter earnings call on Jan 22.
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Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Apple, Intel, and Nvidia. The Motley Fool has a disclosure policy.
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