Intel Corporation (INTC): A Bull Case Theory

We came across a bullish thesis on Intel Corporation (INTC) on r/wallstreetbets Subreddit by monoteapot. In this article, we will summarize the bulls’ thesis on INTC. Intel Corporation (INTC)’s share was trading at $22.92 as of 15^th July. INTC’s trailing and forward P/E were 88.08 and 88.75 respectively according to Yahoo Finance.

Intel is being significantly undervalued while the market remains fixated on NVIDIA’s GPU dominance and $4T valuation. The current AI ecosystem has been built around GPUs not because they are ideal, but because they were available. Now, with purpose-built chips for AI training and, more critically, inference, the landscape is shifting. NVIDIA capitalized on the early training hype, but the future lies in efficient, scalable inference—the kind of computing that powers AI in everyday devices, not massive models like GPT-5.

Intel, with its Gaudi 3 chips delivering nearly 3x better price-performance than NVIDIA’s H100s, is strategically positioned to lead this shift. Most AI engineers don’t understand or care about CUDA’s backend, and frameworks like PyTorch and TensorFlow have long supported multiple hardware platforms, eroding NVIDIA’s perceived software moat.

Companies are beginning to realize that spending millions on high-end GPUs for basic inference workloads is wasteful and unsustainable. As cost pressures mount, businesses will pivot toward affordable, energy-efficient alternatives, where Intel and other non-NVIDIA players shine.

The mispricing in Intel’s stock creates an asymmetric opportunity: a legacy company with real infrastructure, cutting-edge inference tech, and a valuation that implies obsolescence rather than resurgence. Recent market responses, like the $589B drop in NVIDIA’s valuation after DeepSeek’s more efficient training benchmark, show how fast sentiment can turn.

As inference becomes the dominant AI workload, Intel is primed to benefit. Investors overlooking this shift risk missing out on one of the most compelling contrarian plays in the semiconductor space today.

Previously, we covered a bullish thesis on Intel Corporation by DeepValue Capital in April 2025, which highlighted the company’s turnaround under Lip-Bu Tan, its government-backed foundry expansion, and the strategic pivot toward AI-capable chips and inference workloads. The company’s stock price has appreciated approximately 17% since our coverage. This is because the thesis partially played out, cost-cutting and foundry investments began to restore confidence. monoteapot shares a similar view but emphasizes Intel’s Gaudi 3 chips, the shift from AI training to inference, and the market’s mispricing of Intel’s role in a post-GPU-dominant ecosystem.

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Disclosure: None.