News Summary
NeutralIntel delivered blockbuster Q2 results with 25% YoY revenue growth and 59% data center revenue surge driven by AI demand, but reported an $11B net loss due to a $12.5B mark-to-market charge on CHIPS Act escrowed shares. The company raised $20B in equity (one of the largest chip industry raises) to fund AI expansion, though this dilutive capital raise and analyst concerns about valuation despite genuine business momentum create a mixed outlook.
Red flags
- •$11 billion net GAAP loss in Q2 despite strong revenue growth
- •$20 billion dilutive equity raise announced in August (shares fell ~4% on announcement)
- •Mizuho downgraded price target to $92 from $109 on valuation concerns (September 3, 2026)
- •Seeking Alpha analyst downgrade on July 23 despite strong Q2, questioning investment quality at current levels
- •Stock down ~32% from all-time high despite strong operational momentum, suggesting valuation risk
Funds Buying (5)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Coatue Management | Philippe Laffont | 12.1M | +12.1M | $1.7B | 3.5% | — | NEW |
| Tiger Global | Chase Coleman | 4.3M | +2.6M | $594M | 2.5% | +160% | Existing |
| Maverick Capital | Lee Ainslie | 3.7M | +673K | $512M | 4.6% | +22% | Existing |
| Whale Rock Capital | Alex Sacerdote | 260K | +260K | $36M | 0.3% | — | NEW |
| Soros Fund Management | Soros Family Office | 100K | +100K | $14M | 0.2% | — | NEW |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter. % of Fund is the position's share of the fund's reported equity portfolio — it drives the size weighting in the conviction score.
Portfolio Context
Where INTC ranks in each buying fund's book, and the positions immediately around it. What a holding sits next to often says more about the thesis than the position size does.
position #4 of this fund's book
- 1NVIDIA CORPORATION$612M
- 2ADVANCED MICRO DEVICES INC$567M
- 3ASTERA LABS INC$515M
- 4INTEL CORP$512M
- 5ALPHABET INC$510M
- 6AMAZON COM INC$482M
- 7NU HLDGS LTD$475M
position #11 of this fund's book
- 8BROADCOM INC$2,209M
- 9EATON CORP PLC$2,117M
- 10ALPHABET INC$1,735M
- 11INTEL CORP$1,687M
- 12CEREBRAS SYSTEMS INC$1,549M
- 13META PLATFORMS INC$1,423M
- 14EQUINIX INC$1,327M
position #15 of this fund's book
- 12CEREBRAS SYSTEMS INC$663M
- 13BROADCOM INC$663M
- 14COUPANG INC$633M
- 15INTEL CORP$594M
- 16SPOTIFY TECHNOLOGY S A$538M
- 17TAKE-TWO INTERACTIVE SOFTWAR$452M
- 18REDDIT INC$439M
position #31 of this fund's book
- 28MONGODB INC$75M
- 29IMPINJ INC$58M
- 30DUOLINGO INC$54M
- 31INTEL CORP$36M
- 32APPLE INC$29M
- 33SPACE EXPLORATION TECHN CORP$26M
- 34BROADCOM INC$23M
Values are quarter-end position sizes. Shown only for funds where INTC ranks inside their 40 largest equity positions — below that, neighbouring names carry no signal. Adjacency is an inference about a fund's reasoning, not a disclosure of it.
Signal History
| Quarter | Direction | Funds | Score | vs SPY |
|---|---|---|---|---|
| Q2 2026 | LONG | 5 | 7.14 | -20.8% |
| Q1 2026 | LONG | 6 | 6.06 | +112.6% |
Same issuer appearing in consecutive quarters — persistent institutional conviction. Returns are frozen at each archived quarter's last refresh.
Insider Activity
| Name | Title | Type | Shares | Price | Value | Filed | Src |
|---|---|---|---|---|---|---|---|
| TAN LIP BU | CEO | BUY | 105K | $95.00 | $10.00M | 2026-08-11 | ↗ |
Beneficial Ownership (13D/13G)
| Filer | Form | Shares | % of Class | Filed | Src |
|---|---|---|---|---|---|
| Vanguard Capital Management | SC 13G | 327.5M | 6.5% | 2026-04-30 | ↗ |
SC 13D = active intent to influence control (10-day filing deadline after crossing 5%). SC 13G = passive accumulation, no intent to influence control.
Congressional Trading
| Member | Chamber | State | Type | Amount Range | Transaction Date | Filed | Src |
|---|---|---|---|---|---|---|---|
| Shelley M Capito | senate | — | SELL | $1,001 - $15,000 | 2026-07-21 | 2026-08-04 | ↗ |
| Matthew Robert Van Epps | house | TN07 | SELL | $1,001 - $15,000 | 2026-06-16 | 2026-06-17 | ↗ |
| Nancy Pelosi | house | CA11 | BUY | $1,000,001 - $5,000,000 | 2026-05-29 | 2026-06-23 | ↗ |
| Alan Armstrong | senate | — | BUY | $1,001 - $15,000 | 2026-03-27 | 2026-07-21 | ↗ |
| Thomas H Tuberville | senate | — | SELL | $100,001 - $250,000 | 2024-05-13 | 2026-08-05 | ↗ |
| Thomas H Tuberville | senate | — | SELL | $100,001 - $250,000 | 2024-05-10 | 2026-08-05 | ↗ |
| Thomas H Tuberville | senate | — | BUY | $50,001 - $100,000 | 2024-05-09 | 2026-08-05 | ↗ |
| Thomas H Tuberville | senate | — | BUY | $100,001 - $250,000 | 2024-05-08 | 2026-08-05 | ↗ |
| Thomas H Tuberville | senate | — | BUY | $100,001 - $250,000 | 2024-05-07 | 2026-08-05 | ↗ |
Periodic Transaction Reports filed under the STOCK Act. Amounts are disclosed as ranges, not exact dollar figures.