New York, Feb 3, 2026, 5:52 PM EST — After-hours
- Intel shares rose in after-hours trading after CEO Lip-Bu Tan revealed plans to build the company’s own GPUs and named a new lead architect.
- Tan pointed to rising customer demand for Intel’s upcoming “14A” manufacturing process as the company focuses on attracting foundry clients.
- Traders zero in on customer commitments and are pushing for a clearer timeline on products and capacity.
Intel (INTC) shares ticked up about 0.9% to $49.25 in after-hours trading Tuesday after CEO Lip-Bu Tan spoke to Reuters. He disclosed Intel’s plans to build graphics processing units for data centers and confirmed they’ve brought on Qualcomm veteran Eric Demmers as chief GPU architect. “I just hired the chief GPU architect, and he’s very good,” Tan said. He added that Intel is already talking with several customers and expects volume production using its 14A process to accelerate later in 2026. (Reuters)
Intel’s comments arrive amid heightened sensitivity among investors. Shares have been jittery, moving sharply whenever there’s talk of the company branching out beyond PCs and traditional server chips into AI hardware.
GPUs, built to handle many calculations at once, are crucial for both training and running AI models. Nvidia has secured a dominant lead here, leaving rivals racing to close the gap.
Intel is advancing on two fronts: ramping up chip sales for data centers and attracting outside clients to its factories. The “foundry” business is designed to help offset the hefty costs of building and equipping new plants.
Mixed signals came from the broader chip sector. AMD (AMD) slipped in after-hours trading after warning of a sequential revenue decline this quarter, highlighting that AI demand isn’t guaranteed to grow every quarter. (Reuters)
Filings also shed light on insider activity around Intel shares. CFO David Zinsner reported performance stock units vesting, then sold some shares to cover taxes. At the same time, Intel officer April V. Boise filed a notice to offload 20,000 shares. (Intel Corporation)
But jumping into GPUs comes with a steep price tag. Intel needs to roll out chips that can compete, and just as importantly, it has to provide developer software tools to challenge entrenched rivals boasting loyal customer bases.
Intel warned it’s struggling to meet demand for some AI data-center server chips and released a forecast that fell short of Wall Street’s estimates. This casts a spotlight on execution risks ahead of its new GPU projects gaining traction. (Reuters)
Investors are holding out for sharper clues about potential GPU customers and firmer details on Intel’s foundry strategy. The key date to mark is Intel’s earnings report on April 23, according to Yahoo Finance’s earnings calendar. (finance.yahoo.com)
