Nvidia (NVDA +4.14%) is heading to China this week, with CEO Jensen Huang accompanying President Trump on his visit to meet with President Xi Jinping, and announcing a deal that will permit it to ship H200 artificial intelligence chips to the Middle Kingdom.
Nvidia stock is up more than 2% on the news, while Intel (INTC 3.87%) stock is down 3.9% through 10:10 a.m. ET. But here’s the thing:
Nvidia is not the reason Intel stock is down. Advanced Micro Devices (AMD +0.82%) and Arm Holdings (ARM +0.31%) are.
Image source: Intel.
Competition grows for Intel
As StreetInsider.com reports today, a new research report from Swiss megabank UBS confirms that Intel is losing market share in servers — and AMD and ARM are picking up the pieces.
In Q1, Intel claimed a 54.9% market share in the growing server CPU market, down 370 basis points sequentially. In contrast, AMD gained 230 b.p. to reach 27.4% market share, and ARM gained 140 b.p. to reach 17.7%.
And that’s the good news.
The bad news is that AMD’s and ARM’s gains were even more pronounced (330 b.p. and 620 b.p., respectively) year over year — versus Intel losing 950 b.p. year over year. So Q1 wasn’t a fluke. This is a longer-term trend: AMD and ARM are winning the AI data center market.

Today’s Change
(-3.87%) $-4.66
Current Price
$115.63
Key Data Points
Market Cap
$605B
Day’s Range
$113.17 – $118.55
52wk Range
$18.96 – $132.75
Volume
2.5M
Avg Vol
113M
Gross Margin
35.90%
What’s next for Intel?
Not all the news is bad for Intel. UBS noted the company’s new Coral Rapids chips may prove popular, and Intel may “benefit on the PC side as locally run agentic workloads drive demand over the medium term.” Plus, the entire AI market is still growing rapidly. Intel can still prosper with a smaller share of a bigger market.
It’s just that it would be better to grab more share of that market — like AMD and Arm are doing.
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Intel, and Nvidia. The Motley Fool has a disclosure policy.


















