Mizuho Hikes Intel Price Target to $124 as Agentic AI Server Demand Validates the Turnaround

"Mizuho raised its price target on Intel ( NASDAQ:INTC | INTC Price Prediction) stock to $124 from $100 on May 12, keeping a Neutral rating as the firm cited agentic AI continuing to drive server demand. The revision is part of a broader semiconductor and AI infrastructure estimate hike across multiple names. For long-term investors, the move signals that even cautious Wall Street desks now see Intel's turnaround as durable, though Mizuho stops short of an outright bull call."

"Mizuho's thesis centers on agentic AI workloads driving continuous inference demand for general-purpose CPU compute alongside AI accelerators. Intel's Xeon franchise remains the volume leader in enterprise data center deployments. The relative magnitude of Mizuho's calls also reveals its preference inside the x86 duopoly. The firm raised its Advanced Micro Devices ( NASDAQ:AMD) stock price target to $515 with an Outperform rating, versus a $24 bump on Intel to $124 at Neutral."

"Intel, led by CEO Lip-Bu Tan, carries a market cap of roughly $651 billion. Q1 FY2026 revenue came in at $13.58 billion, up 7% year over year, with the Data Center and AI segment growing 22% to $5.05 billion, the clearest evidence yet that the AI cycle is reaching Intel's core franchise. Tan framed the moment squarely around agentic compute."

""The next wave of AI will bring intelligence closer to the end user, moving from foundational models to inference to agentic," he stated, adding that the shift is "significantly increasing the need for Intel's CPUs and wafer and advanced packaging offerings.""

Mizuho raised its Intel price target to $124 from $100 on May 12 while maintaining a Neutral rating. The change cites agentic AI as a driver of ongoing server demand, supported by continuous inference workloads that require general-purpose CPU compute alongside AI accelerators. Intel’s Xeon line remains a leading volume choice for enterprise data center deployments. The update also reflects broader semiconductor and AI infrastructure estimate increases across multiple companies. Intel shares trade near $117, below a 52-week high of $132.75, after strong recent gains. Intel reported Q1 FY2026 revenue of $13.58 billion, with Data Center and AI revenue up 22% to $5.05 billion, reinforcing momentum in its core franchise.

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