Intel shares have surged by over 22% and are on track to record one of its biggest one-day gains in its more than five decades. The company is benefiting from strong demand for its central processing units, a product crucial to powering agentic workloads. Despite acknowledging that Intel is "ridiculously expensive" as a stock, Dan Niles, founder of Niles Investment Management, believes that the company could be in for more upside even after its recent surge to all-time highs. He also noted that Intel's central processing unit (CPU) demand is high, suggesting that it could be a growth story for the AI industry.