Cowen Maintains Hold on Intel as CPU Demand Rises, Yet Execution Risks Persist

TD Cowen says Intel could benefit from rising CPU demand tied to AI workloads as hyperscale data centers lean toward CPU orchestration, but maintains a Hold due to execution risks and a rich valuation. Intel’s in-house server roadmap and the Fab 34 buyback signal an improved demand picture, though near-term competitive headwinds remain. The stock trades at a premium versus peers like Nvidia, with the overall consensus target in the low-to-mid $50s and a Hold rating.