Intel Corp (NASDAQ:INTC) shares moved higher Thursday as investor focus turned to AI demand tailwinds and a potential partnership with Tesla Inc (NASDAQ:TSLA).

Musk Backs Intel’s 14A Process

Elon Musk strengthened Tesla’s ties with Intel by confirming plans to use its next-generation 14A manufacturing process for in-house AI chips at the proposed Terafab complex in Austin.

He said the technology would likely be mature by the time Terafab scales, adding, “14A seems like the right move, and we have a great relationship with Intel.”

The move could give Intel a major external customer and boost its ambitions in contract chip manufacturing.

Cramer: AI Demand Favors Intel And AMD

CNBC’s Jim Cramer said on Wednesday that Intel and Advanced Micro Devices Inc (NASDAQ:AMD) are benefiting from the next wave of AI demand, as AI agents require more powerful central processors.

He argued the bottleneck has shifted away from NVIDIA Corp’s (NASDAQ:NVDA) chips to CPUs, which is why “everyone keeps buying Intel and AMD,” adding that both companies are closely tied to data center and AI infrastructure growth.

NVIDIA Strong In GPUs, But Gap Remains In CPUs

Cramer noted that while NVIDIA dominates graphics chips, it does not compete in this processor segment, leaving room for Intel and AMD to gain as companies expand infrastructure to support AI agents.

Technical Analysis

Intel is holding near its 52-week highs after a powerful multi-month run, a setup that often keeps trend-followers focused on “buy-the-dip” behavior rather than mean reversion. The stock is trading 19.4% above its 20-day simple moving average (SMA) and 45.9% above its 100-day SMA, suggesting strong short-term and intermediate-term trend control by buyers.

The moving average structure stays constructive, with the 20-day SMA above the 50-day SMA, and the golden cross that occurred in August 2025 still reinforcing the longer-term uptrend. The moving average convergence divergence (MACD), a trend/momentum measure, is above its signal line, with a positive histogram, which suggests upside momentum is likely to remain rather than fade.

Over the last 12 months, the stock has been up 228.41%, which aligns with the moving averages’ signal of persistent trend strength. With the 52-week high at $70.33 and the stock not far below that level, traders often watch whether the price can hold on to pullbacks without breaking the trend.

  • Key Resistance: $70.50 — near the recent high zone where rallies can stall.
  • Key Support: $56.50 — around the 20-day SMA area where buyers have recently shown up.

Earnings & Analyst Outlook

Looking further out, the next major catalyst for the stock arrives with today’s earnings report after hours.

  • EPS Estimate: 1.4 cents (Down from income of 13 cents YoY)
  • Revenue Estimate: $12.42 Billion (Down from $12.67 Billion YoY)

Top ETF Exposure

  • iShares MSCI USA Value Factor ETF (BATS:VLUE): 5.07% Weight
  • Pacer Data and Digital Revolution ETF (NYSE:TRFK): 4.41% Weight
  • Adaptiv Select ETF (NYSE:ADPV): 4.43% Weight

Significance: Because INTC carries significant weight in these funds, any significant inflows or outflows will likely trigger automatic buying or selling of the stock.

INTC Price Action: Intel shares were up 4.52% at $68.22 at the time of publication on Thursday. The stock is trading near its 52-week high of $70.32, according to Benzinga Pro data.

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