AI platform partner on the devices. Intel (INTC) news that moved the stock

What happened

Dell expanded its Windows computing portfolio with new NVIDIA-powered systems developed with NVIDIA and Microsoft. The XPS 16 Creator Edition is Dell's first XPS laptop built around NVIDIA RTX Spark hardware, pairing a Blackwell GPU with a Grace CPU and up to 128GB of unified memory, with a 3.2K tandem OLED display; U.S. Best Buy pre-orders opened October 7. Dell also introduced the Creator Edition Desktop (up to one petaflop of FP4 compute, able to run up to 200-billion-parameter models, availability to follow soon) and renamed its Dell Pro Max workstation range to Dell Pro Precision, including GB300-based systems for Windows delivering up to 20 petaflops of FP4 and 748GB of coherent memory, capable of running up-to-1-trillion-parameter models locally. Shares rose 1.3% to $581.47 on the announcement.

What happened

Citi analyst Atif Malik maintained his Buy rating on AMD and raised his price target to $800 from $575 — a 39% hike implying ~27% upside from Monday's close — in a note published Tuesday, Oct 6. Malik argues Meta's Muse personal AI agent and other recently launched agentic-AI products (Dots, Instinct, GrokBot, GeminiSpark) will drive orders-of-magnitude more CPU demand than traditional chatbots, because agents operate continuously rather than idling between interactions. He projects the CPU industry will grow 60% a year on average through decade's end, becoming a $300 billion market. In the same wave, Mizuho's Vijay Rakesh reiterated outperform on AMD and raised his target to $705 from $580, citing Muse and OpenAI's Dots; he also raised price targets on buy-rated Dell (DELL), Sandisk (SNDK) and neutral-rated Super Micro (SMCI), and lifted Intel (INTC) to $114 from $92. Citi also reiterated its Buy on Nvidia ($315 target) on GPU demand uplift. AMD rose ~1.9% in premarket trading to around $643.

What happened

Elon Musk confirmed on Saturday in an X post that Taiwan Semiconductor (TSMC) is in discussions to join his Terafab chip venture, writing 'Just discussions, but something may come of it' in response to a report from Asian tech Substack Culpium saying TSMC was exploring how to help run Terafab's Texas semiconductor factories. Intel shares slid about 3.7-4% premarket to $114.95 on Monday, snapping a run that had the stock up 25% over the prior month, while TSMC's U.S. shares climbed 1.8% and its Taiwan shares rose ~3%. Oppenheimer semiconductor analyst Rick Schafer wrote Monday that Intel is currently slated to supply its 14A process to Terafab — 'a role TSMC's own nodes could replace' — with one option having TSMC own and run a fab serving only Tesla, SpaceX, and xAI while SpaceX invests or commits volume. Musk later acknowledged that any TSMC chips would likely supplement, not replace, Intel's role.

What happened

The US Treasury selloff deepened on Monday, Sept. 28, pushing yields to fresh multiyear highs. Per WSJ/Dow Jones Newswires, the 10-year yield settled at 5.241% (a 19-year high; intraday high of 5.272%, near a 24-year record) and the 30-year touched 5.561%, a 24-year high. The S&P 500 fell 0.77% to 7,683.69, the Dow dropped 347.1 points (0.67%) to 51,481.51, and the Nasdaq fell 0.92% to 26,820.38. Brent crude closed at $105.28 (+0.9%) after an intraday 3% spike, and money markets priced a 70% probability of a 25bp Fed rate hike in October (vs. 58% a week earlier per CME FedWatch).