Intel's stock experienced a remarkable surge of over 24%, reaching $83 per share, driven by unexpectedly strong demand for its central processing units (CPUs) from companies in the artificial intelligence (AI) sector. This increase has pushed Intel's market capitalization to over $416 billion. The positive momentum follows a strong first-quarter performance, prompting at least 23 brokerages to raise their price targets for the stock, with a median target now at $75, up from $46.50 just a month ago. Intel's Chief Financial Officer, David Zinsner, noted that the company's forecast was bolstered by higher prices and tight supply, leading to the sale of previously shelved chips. Year-to-date, Intel shares have surged more than 120%, following an 84% increase last year, as the company rebounds under CEO Lip-Bu Tan. In addition, Intel has secured Tesla as a customer for its next-generation chipmaking process, further enhancing its prospects in the competitive landscape against rivals like AMD and Nvidia, which are also experiencing gains.