Intel Stock Is Moving Higher Tuesday: What's Going On?

Intel Corp INTC shares are trading higher Tuesday. The company announced new AI-focused processors and chips this week at Computex 2024.

What Happened: Late Monday, Intel announced the launch of its new Xeon 6 processors with efficient cores for performance gains and unveiled its Lunar Lake client processor architecture in an effort to grow the AI PC category.

The announcements come as the company presents at the Computex technology event in Taiwan.

Intel Xeon provides customers with a rack-level performance gain of up to 4.2x and performance per watt gain of up to 2.6x when compared with second generation Intel Xeon processors on media transcode workloads. Intel noted that Xeon 6 processors free up compute capacity and infrastructure for innovative new AI projects.

Intel’s Lunar Lake offers a massive leap in graphics and AI processing power with power-efficient compute performance for the thin-and-light segment. Lunar Lake is expected to deliver up to 40% lower SoC power and more than three times the AI compute compared to Intel’s prior generation chip.

“AI is driving one of the most consequential eras of innovation the industry has ever seen. The magic of silicon is once again enabling exponential advancements in computing that will push the boundaries of human potential and power the global economy for years to come,” said Pat Gelsinger, CEO of Intel.

The new Xeon 6 processors with E-cores are available right now. The Xeon 6 P-cores will be available later this quarter. Intel’s Lunar Lake chips are expected to ship in the third quarter of 2024.

Check This Out: Intel Steps Up AI Game With Lunar Lake Chips For Microsoft Copilot+ PCs, New Data Center Rivals To AMD

INTC Price Action: Intel shares were up 1.85% at $30.85 at the time of publication, according to Benzinga Pro.

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