Intel's shares have surged to a record high of $83, surpassing its dot-com era peak in 2000, and taking the company's market value above $416 billion. Demand for Intel's central processors from AI services was so high in Q1 that it sold even chips it had written off. This turnaround led to a more significant increase in Intel's shares, with AMD and Arm gaining more than 11% each. At least 23 brokerages have raised their price targets on Intel's stock following its strong Q1 performance. The company's shares are now valued at around 90 times its 12-month forward earnings estimates, higher than AMD and Nvidia.