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KeyBanc Capital Markets analysts told investors in a note Thursday that results from the firm’s January cloud tracker are moderately positive for Intel (NASDAQ:INTC).
KeyBanc explains that its Cloud Instance Tracker uses data analytics to track the “proliferation of semiconductor architectures by region based on instances available to purchase in the public cloud.” It is designed to track the launch and proliferation of new architectures.
“Our January results indicate cloud grew steadily on a sequential basis (+2% m/m, +24% y/y), compared with December (+2% m/m, +23% y/y), while y/y growth slowed vs. +33% y/y a year ago,” wrote analysts. “Sequentially, INTC and AMD both grew +2% m/m, while NVDA was flat m/m.”
The analysts also revealed that Intel CPU instances increased +2% month-on-month (m/m), as Ice Lake growth accelerated to +10% m/m compared to +4% m/m in December.
“INTC grew modestly, while Ice Lake ramped meaningfully.” the analysts added. “Intel processor deployments were +2% m/m and +13% y/y, compared with December (+1% m/m, +11% y/y), with Ice Lake growth accelerating to +10% m/m and +91% y/y, as compared to +4% m/m and +76% y/y in December, with expansion seen mostly at GCP.”
Intel shares are up more than 1% ahead of the open on Thursday.
