Intel Falls in Global Chip Selloff as Broadcom Miss, Job Data Weigh; CEO AI CPU Comments Provide Support

Semiconductor stocks tumbled globally on June 5, 2026, as Broadcom’s guidance miss erased AI spending optimism and a stronger-than-expected 172,000 U.S. payrolls print removed near-term rate cut hopes. Intel (INTC) shares fell but found support from CEO Lip-Bu Tan’s recent disclosure that data center CPU supply is struggling to keep pace with agentic AI demand. At Computex, Tan said every major cloud CEO had called him in recent weeks seeking more Xeon processors, noting that the shift from GPU-heavy training to CPU-heavy orchestration and reasoning for AI agents is altering the chip mix in Intel’s favor. Analysts at Wells Fargo, Barclays and Mizuho raised price targets to as high as $128, while maintaining neutral ratings. Intel’s stock, up 162% year-to-date at $103.15, remains 20% below its 52-week high of $129.44 reached in May 2026.