BofA Upgrades Intel to Buy on AI-Driven CPU Growth

Agentic AI is shifting servers beyond model training toward the continuous execution of inference, planning and tool calls, lifting CPU demand in tandem. Bank of America estimates that the global server CPU market will grow from about $35 billion in 2025 to more than $170 billion by 2030. Intel could be a major beneficiary of expanding AI infrastructure if it maintains its share of the x86 server market and secures external foundry orders.

On June 11, 2026, BofA Securities upgraded Intel by two notches from Underperform to Buy and raised its price target from $96 to $135. The report projected that Intel's data-center and AI revenue would reach $43.7 billion in 2030, while foundry revenue would rise from $1.1 billion in 2026 to $47.1 billion. Only about one in six institutional investors currently holds the stock, and renewed buying could provide a catalyst for its share price.