Intel DC roadmap pull-ins a ‘huge positive,’ says Susquehanna

Susquehanna says that Intel provided "major updates" to their data center, or DC, roadmap during the company’s 2023 DCAI investor webinar, including having pulled in Sierra Forest to launch in the first half of 2024, versus expectations of full year 2024, with Granite Rapids to follow shortly thereafter. In addition, Clearwater Forest was announced as the successor to Sierra Forest, to launch in 2025 on Intel 18A, and "importantly, this is node where Intel believes they will regain process leadership," the analyst tells investors. The firm calls today’s update a "huge positive" and "a major improvement" that supports its recent upgrade based on Intel hitting, or even pulling in, their stated roadmaps. Susquehanna has a Neutral rating and $26 price target on Intel shares after having upgraded the stock on March 16.