This article first appeared on GuruFocus.
Intel (NASDAQ:INTC) shares climbed about 2% in Tuesday trading after an executive said the chipmaker is working on a new processor and platform focused on gaming, according to comments made at CES and reported by TechCrunch.
Daniel Rogers, an Intel executive, said the company is developing a dedicated gaming processor alongside a broader gaming platform that will combine both hardware and software, according to a Tuesday press release-style briefing.
The platform is expected to be built on Intel’s Core Series 3 processors, which will serve as the foundation for the new gaming-focused offering. Rogers said Intel plans to share more details about the processor and platform later this year.
The move signals a renewed push into gaming chips, an area where Intel has a long history dating back to the 1990s. The company is aiming to strengthen its competitive position against Advanced Micro Devices (AMD) and Nvidia (NVDA), both of which have expanded their gaming-focused processor portfolios in recent years.
Investors believed that the plan was quite promising, as an expansionary tool in the face of the continuing high demand for both high-performance gaming hardware.
The shares of Intel continued to ride the previous stock with some optimistic hopes regarding the timing and how it would be implemented.