Intel stock gets JPMorgan upgrade as AI and data center demand builds

What happened: JPMorgan upgraded Intel (INTC) to neutral from underweight, with the price target unchanged at $85, citing improving server demand, data center growth, manufacturing progress, and custom-chip momentum. Key numbers: Price target $85. Custom-chip business at a $2 billion annualized revenue run rate. Why it matters: The analyst calls the risk/reward relatively balanced now, saying the stock has fallen enough rather than turning bullish, and wants to see how Intel's measures play out before getting more positive.

JPMorgan upgraded Intel (INTC) to neutral from underweight, with the price target unchanged at $85, citing improving server demand, data center growth, manufacturing progress, and custom-chip momentum.

The analyst calls the risk/reward relatively balanced now, saying the stock has fallen enough rather than turning bullish, and wants to see how Intel's measures play out before getting more positive.