Intel Corp. (NASDAQ:INTC) remains in focus as investors weigh its upcoming earnings report, a broader rebound in semiconductor stocks and an expanded cloud partnership with Oracle.
The stock is little changed on Wednesday. AI Optimism Lifts Chip Stocks Semiconductor stocks moved higher after Anthropic’s IPO filing revived optimism around artificial intelligence and helped lift major Asian technology shares.
The sector also drew support from SK hynix Inc. (NASDAQ:SKHY) reporting upbeat results.
Investors are also monitoring lower oil prices and the Federal Reserve’s two-day policy meeting for clues about the interest-rate outlook. Intel Expands Oracle Cloud Partnership Intel and Oracle Corp.
(NYSE:ORCL) plan to expand their multiyear collaboration as Oracle adds more Intel processors to its cloud infrastructure to support growing AI use. The companies plan to coordinate future processor plans and capacity as Oracle expands its cloud operations.
Intel said the arrangement should allow businesses to add AI capabilities to existing systems without replacing the software and tools they already use. Intel Data Center Group head Kevork Kechichian said the partnership aims to help customers run AI applications faster and at lower cost.
Oracle executive Pradeep Vincent said the expanded collaboration will add computing capacity for AI workloads while allowing customers to continue using familiar enterprise software. Earnings in Focus Intel is scheduled to report quarterly results on Oct.
29. 65 billion in the prior-year period.
30, keeping the longer-term trend above that benchmark. 67, reflecting weaker short-term momentum.
42, with forecasts ranging from $80 to $155 across 45 analysts. Rosenblatt maintains a Sell rating with an $80 forecast, Wedbush maintains Neutral with a $98 forecast, and RBC Capital maintains Sector Perform with a $100 forecast.
64%. Significant fund inflows or outflows can translate into corresponding trading activity in Intel shares.
73 at the time of publication on Wednesday, according to Benzinga Pro data. com Read Also: Why Is Broadcom Stock Gaining Tuesday?
