Intel's Unveiling of New AI Products Lead's to Price Surge

Shares of Intel (NASDAQ: INTC ) were climbing through out yesterday, seemingly in response to its "AI Everywhere" event. The chipmaker also seems to have gotten a modest boost from the Federal Reserve's decision to keep interest rates steady yesterday and its dovish forecast for next year.

Intel unveils new AI products
The company launched three new chips at the AI Everywhere event today. The first was the Intel Core Ultra mobile processor family, which Intel says offers its most power-efficient PC processors and will accelerate the development of the artificial intelligence (AI)-powered PC.

It also announced the fifth-generation Intel Xeon processor, built with AI acceleration, and CEO Pat Gelsinger showcased the Intel Gaudi 3 AI accelerator for the first time, which will be available next year.

Intel is also partnering with more than 100 software vendors to bring new AI applications to the PC market.

What's next for Intel?
Based on the stock's gains today, the market seems to approve of the presentation. Intel should be able to fill a need in the market here as there is a clear shortage of AI chips and processors -- companies like OpenAI and Oracle have complained that they simply don't have the capacity to keep up with demand.

Also, INTC is trading above all of its Moving Averages indicating a Continual Bullish Trend.