Semiconductor major Intel (NASDAQ:INTC) is reportedly planning to introduce a data center chip that will be capable of achieving a 240% increase in computing power for each watt hour consumed, according to Reuters. This means that the “Sierra Forest” chip, expected to be launched next year, will be able to deliver output at double the power efficiency of current chips.
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Data centers guzzle vast amounts of electricity, and the “Sierra Forest” is part of a wider industry-level push to decrease electricity consumption. Intel has seen a loss of market share to other semiconductor makers and is now dividing its data center chips into two categories. While its “Granite Rapids” chips will be focused on performance (requiring more power), the “Sierra Forest” will prioritize efficiency.
The company is also aiming to quadruple its advanced chip-making capacity by 2025. The move includes a facility in Malaysia – Intel’s first overseas plant.
Overall, the Street has a consensus price target of $36.39 on Intel, along with a Hold consensus rating. Shares of the company have surged nearly 26% so far this year.
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