Intel Corp. (INTC) to Inject Additional $15 Million in Samba Nova Systems

Intel Corp. (NASDAQ:INTC) is one of the 10 best AI chip stocks to buy according to hedge funds.

On April 2, Reuters reported that Intel Corp. (NASDAQ:INTC) announced plans for investing an extra $15 million in Samba Nova Systems, a chip startup that is led by the company’s CEO Lip-Bu Tan.

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This investment will see Intel’s stake in Samba Nova rise to 9%, after the previous $35 million investment the company made in February. The move signals Intel’s continued commitment to expanding its presence in the artificial intelligence chip market through strategic partnerships.

On April 2, DA Davidson maintained a Neutral rating on Intel Corp. (NASDAQ:INTC). The firm estimated a price target of $45 for the stock. The rating came after the company announced a finalized deal worth $14.2 billion for acquiring a 49% equity stake held in the joint venture related to Fab 34, based in Ireland. According to the firm, the deal provides a good prospect for the Intel turnaround and will boost the financial position of the company.

Intel Corp. (NASDAQ:INTC) is a global provider of computing-related goods and services. The company manufactures edge connection solutions, discrete graphics units, and server CPUs. Along with enhanced driver assistance and autonomous car technologies, it also works on commercializing wafer fabrication services.

While we acknowledge the risk and potential of INTC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than INTC and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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