{"slug": "intel-soars-on-double-rating-upgrade-from-bofa-on-cpu-growth", "title": "Intel soars on double rating upgrade from BofA on CPU growth", "summary": "Intel shares surged 5.2% after Bank of America issued a double rating upgrade, raising Intel to \"buy\" from \"underperform\" and boosting its price target to $135 from $96. Analyst Vivek Arya cited Intel's opportunity to address industry constraints in leading-edge wafers and packaging, as well as its potential to capture a larger share of the agentic CPU market. The upgrade reflects Bank of America's increased estimate for the global server CPU market, projected to exceed $170 billion by 2030, driven by rising AI demand and Intel's foundry services.", "body_md": "# Intel soars on double rating upgrade from BofA on CPU growth\n\n[Intel](https://robinhood.com/us/en/stocks/INTC/?source=sherwood) shares are surging following a double rating upgrade from Bank of America, which flipped its stance on the company from bearish to bullish.\n\nBank of America raised its rating on Intel to “buy” from “underperform,” boosting its 12-month price target to $135 a share from $96.\n\nShares of Intel rose 5.2% in recent trading, bringing the stock’s gains thus far in 2026 to more than 200%.\n\nAnalyst Vivek Arya noted “higher confidence in INTC’s opportunity to help address industry constraints in leading edge wafers/packaging” and its ability to capture a “much larger” agentic CPU market.\n\nBank of America heavily increased its estimate for the global server CPU total addressable market (TAM), predicting it will skyrocket to more than $170 billion by 2030. Analysts highlighted the rise of agentic AI as a critical tailwind that will require a massive volume of traditional x86 server chips.\n\nBeyond standard chip architecture design, the report also shows confidence in Intel’s customized manufacturing services. BofA analysts now project that its server CPU revenue could top $40 billion by the end of the decade.\n\nMomentum was built around Intel Foundry services as surging global AI demand continuously outpaces capacity. Just last week, [Google](https://robinhood.com/us/en/stocks/GOOGL/?source=sherwood) [reportedly](https://sherwood.news/tech/intel-shares-soar-on-report-of-google-chip-deal-possible-future-nvidia-business/) placed an order with Intel to manufacture more than 3 million of its [increasingly popular](https://sherwood.news/tech/google-shares-jump-on-new-tpu-8-chips-enterprise-agent-platform-and-partnership-with-nvidia/) tensor processing unit chips in 2028. According to the report, Nvidia is also testing to see if Intel could manufacture its next-gen Feynman chips.", "url": "https://wpnews.pro/news/intel-soars-on-double-rating-upgrade-from-bofa-on-cpu-growth", "canonical_source": "https://sherwood.news/markets/intel-soars-on-double-rating-upgrade-from-bofa-on-cpu-growth/", "published_at": "2026-06-11 15:11:42+00:00", "updated_at": "2026-06-11 17:56:19.177634+00:00", "lang": "en", "topics": ["ai-chips", "artificial-intelligence", "ai-infrastructure", "ai-agents"], "entities": ["Intel", "Bank of America", "Vivek Arya", "Google"], "alternates": {"html": "https://wpnews.pro/news/intel-soars-on-double-rating-upgrade-from-bofa-on-cpu-growth", "markdown": "https://wpnews.pro/news/intel-soars-on-double-rating-upgrade-from-bofa-on-cpu-growth.md", "text": "https://wpnews.pro/news/intel-soars-on-double-rating-upgrade-from-bofa-on-cpu-growth.txt", "jsonld": "https://wpnews.pro/news/intel-soars-on-double-rating-upgrade-from-bofa-on-cpu-growth.jsonld"}}