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Intel (INTC) Shares Slide 3% Following Foundry Leader’s Move to Qualcomm

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INTC Stock Card

TLDR

  • Intel (INTC) declined approximately 3% on Thursday, closing at $45.46 with volume 41% below average
  • Kevin O’Buckley, the SVP and general manager of Intel Foundry Services, departed to join Qualcomm as VP of global operations and supply chain
  • The company revealed a partnership with AI chip startup SambaNova focused on the SN50 inference chip
  • Wall Street consensus remains at “Hold/Reduce” with price targets ranging from $45.74 to $48.21
  • Q4 earnings showed EPS of $0.15, surpassing expectations, though margins remain negative with cautious forward outlook

Shares of Intel (INTC) slipped nearly 3% during Thursday’s session, settling at $45.46 compared to the prior close of $46.88. Volume registered approximately 71 million shares, representing a 41% decline from typical daily levels.


INTC Stock Card
Intel Corporation, INTC

The decline was primarily attributed to a significant personnel change: Kevin O’Buckley, who served as senior vice president and general manager of Intel Foundry Services, has exited the company.

O’Buckley is transitioning to Qualcomm, where he’ll assume the position of vice president of global operations and supply chain. The lateral move between two semiconductor powerhouses triggered immediate market reaction.

Intel acted swiftly to calm investor concerns. The chipmaker emphasized that Intel Foundry continues to be “one of Intel’s highest strategic priorities” and will operate under Naga Chandrasekaran’s leadership, who assumed the top foundry position last year.

The company publicly acknowledged O’Buckley’s contributions and extended best wishes. Official reasons behind his departure remain undisclosed.

Speculation suggests O’Buckley may have previously held a direct reporting relationship with CEO Lip-Bu Tan. Following Intel Foundry’s reorganization, his reporting structure shifted to Chandrasekaran. Whether this organizational change influenced his decision remains unclear.

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Intel’s AI Inference Push

The week brought positive developments as well. Intel unveiled a partnership with AI chip startup SambaNova centered on the company’s latest SN50 inference chip. Intel is also contributing to SambaNova’s current funding round.

This collaboration positions Intel more competitively in the AI inference space, which industry analysts identify as a rapidly expanding, higher-margin segment. The partnership demonstrates Intel’s strategic efforts to establish stronger positioning in AI hardware beyond its core CPU operations.

Regarding financial performance, Intel delivered Q4 EPS of $0.15, exceeding the consensus forecast of $0.08. Revenue reached $13.67 billion, topping analyst projections of $13.37 billion. However, revenue declined 4.2% compared to the previous year.

The forward outlook presents challenges. Intel projected Q1 2026 EPS at zero, while analysts anticipate -$0.11 EPS for the complete fiscal year. The company continues facing negative net margins and negative return on equity.

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Nvidia Eyes Intel’s Turf

Additional competitive dynamics are emerging. Nvidia, following its $5 billion Intel investment in December, is now advancing into the CPU sector — territory Intel has traditionally dominated.

As artificial intelligence firms transition from model training to deployment phases, CPU requirements are increasing. Nvidia aims to capture market share in this segment.

Analyst opinions show divergence. Tigress Financial maintains a Buy rating with a $66 price objective. Conversely, Wedbush holds a Neutral stance with a $30 target. UBS established a $51 target. MarketBeat’s consensus stands at “Reduce” with a $45.74 price target, while TipRanks reports an average of $48.21 based on recent analyst coverage.

Insider transactions show mixed signals. EVP David Zinsner acquired approximately $250,000 in stock during late January. EVP April Miller disposed of $981,000 worth of shares in early February.

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Institutional ownership accounts for 64.53% of INTC shares. The stock’s 50-day moving average stands at $44.26, while the 200-day moving average registers at $37.07.

The consensus analyst price target of $48.21 suggests approximately 6.67% potential upside from current trading levels.

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Crypto World

CFTC Staff Share FAQ on Crypto Collateral

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CFTC Staff Share FAQ on Crypto Collateral

The US Commodity Futures Trading Commission has given more details on its expectations for the use of crypto as collateral amid a pilot program that the agency launched last year.

In a notice on Friday, the CFTC’s Market Participants Division and Division of Clearing and Risk responded to frequently asked questions that emerged from two staff letters issued in December that established a pilot allowing crypto to be used as collateral in derivatives markets.

The notice reminded futures commission merchants wanting to take part in the pilot that they must file a notice with the Market Participants Division “which includes the date on which it will commence accepting crypto assets from customers as margin collateral.”

The crypto industry has argued that crypto technology is best suited for 24-7 trading and instant settlement, and the CFTC’s guidance in December clarified what tokenized assets can be used as collateral, along with how to value them and calculate how much is needed for a trading position.

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CFTC aligns guidance with SEC

The CFTC made clear its guidance was to align with the Securities and Exchange Commission, as the two agencies work together on a regulatory framework for crypto.

The CFTC said that capital charges, the amount that must be held to cover losses, would be “consistent with the SEC” and that futures commission merchants should apply a 20% capital charge for positions in Bitcoin (BTC) and Ether (ETH), while stablecoins should get a 2% charge.

Source: Mike Selig

The notice added that futures commission merchants taking part in the pilot can only accept Bitcoin, Ether, or stablecoins for the first three months and must give prompt notice of any significant cybersecurity or system issues. They must also file weekly reports of the total crypto held across customer account types.

After the three-month period, other cryptocurrencies can be accepted as collateral and the reporting requirements will end.

Related: SEC interpretation on crypto laws ‘a beginning, not an end,’ says Atkins

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The notice also clarified that “only proprietary payment stablecoins may be deposited as residual interest in customer segregated accounts” and that futures commission merchants can’t accept other cryptocurrencies for that purpose.

The CFTC said that crypto and stablecoins cannot be used for collateral of uncleared swaps, but swap dealers can use tokenized versions of an eligible asset if it meets regulatory requirements and grants the holder the same rights in its traditional form.

Meanwhile, derivatives clearing organizations can accept crypto and stablecoins as initial margin for cleared transactions if they meet CFTC requirements regarding minimal credit, market, and liquidity risks.

Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026

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