Intel Corp. (NASDAQ:INTC) and Advanced Micro Devices, Inc. (NASDAQ:AMD) are intensifying their rivalry as both companies push deeper into gaming and artificial intelligence, each targeting different growth fronts.
Intel Targets Handheld Gaming With New Panther Lake Platform
Intel is ramping up its gaming ambitions by developing a new chip and platform specifically for handheld gaming devices.
At CES on Monday, Intel Vice President and PC Products GM Daniel Rogers said the company plans to roll out a full hardware-and-software platform built on its Intel Core Series 3 “Panther Lake” processors.
Intel unveiled Panther Lake last year and has already started deploying the chips across a broad range of PCs.
The company is now working on a dedicated Panther Lake variant optimized for portable gaming systems, TechCrunch reported on Tuesday.
Panther Lake also represents a major manufacturing milestone for Intel, as it is the company’s first processor produced on its advanced 18A process node, which entered production in 2025.
A New Front In A Market Dominated By AMD
Intel has been a staple of PC gaming since the 1990s and expanded further into graphics with the launch of Intel Arc GPUs in 2022.
Entering the handheld gaming market, however, would be a significant move into territory currently dominated by AMD.
AMD reinforced its leadership at CES by unveiling the Ryzen 7 9850X3D and highlighting new graphics and ray-tracing technologies.
Rogers said Intel plans to share more details about its handheld gaming products later this year, signaling a more direct challenge ahead.
AMD Gains Momentum In Gaming And AI
While Intel plots its handheld push, AMD continues to gain ground. New Steam hardware survey data shows AMD’s share of Windows gamers jumped 4.6 percentage points in December, leaving it less than 10 points behind Intel.
Over the past year, AMD’s share rose from 38.7% to 47.2%, underscoring a steady shift in gamer preferences.
The rivalry now stretches well beyond gaming. AMD shares are up about 76% over the past 12 months as investors focus on its OpenAI partnership, MI400 accelerators, and the Helios rack system expected in 2026.
Reports that Alibaba Group Holding Limited (NYSE:BABA) may order up to 50,000 MI308 AI chips have further strengthened confidence in near-term demand.
Analysts remain optimistic. TD Cowen recently named AMD a top AI stock, calling the recent pullback an attractive entry point ahead of major product launches, including Helios.
Price Action: Intel shares were up 1.05% at $40.46 during premarket trading on Wednesday, according to Benzinga Pro data. Advanced Micro Devices shares were down 0.70%.
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