Needham Reaffirms Hold on Intel

Needham analyst N. Quinn Bolton reiterated a Hold rating on Intel (NASDAQ: INTC).

“Intel announced that it has entered into a definitive agreement to acquire Classiq, a leading quantum software company.

Classiq focuses exclusively on quantum software, enabling developers to program quantum computers at a high level of abstraction, much as Python does for classical computers.

By combining Classiq’s quantum algorithm synthesis platform with Intel’s silicon spin-qubit hardware and semiconductor manufacturing expertise, the combined company is positioned with a full-stack quantum computing platform.

This marks the highest-profile quantum software deal to date and the largest quantum acquisition overall.

We view this acquisition as validation of both the quantum computing industry’s progress and the importance of the software platform layer.

In addition, we believe the deal could increase investor focus on Horizon Quantum, another leading provider of quantum software infrastructure.

The acquisition is valued at $2.3BN according to Calcalist and is expected to close in C1H27.”

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