Intel (INTC - Free Report) recently unveiled Pohoiki Springs, neuromorphic computing data center rack-mounted system, enabled to offer computational capacity of 100 million neurons.
The latest computing system scales up Loihi neuromorphic research chip by more than 750 times, which can accelerate complex research workloads considerably. Loihi chips are an attempt to harness the power of neurons for advanced data processing in real-time.
Power efficient Loihi research chips have been demonstrated to orient direction using learned visual landmarks, identify gestures in real time, and even learn new odor patterns. In collaboration with Cornell University, the chipmaker trained its neuromorphic chip to learn and identify smell of 10 hazardous chemicals.
Notably, the chipmaker’s neuromorphic systems are in the research phase. The new computing systems are an attempt to provide researchers with tools to build advanced “neuro-inspired algorithms” which facilitate real-time problem solving, processing, adaptation and learning.
Advancements in AI to Boost Business Prospects
Neuromorphic computing is backed by the concept of reverse-engineering of the human brain. The focus is on making cognitive systems smarter and more intelligent, driven by advancements in AI and machine learning algorithms.
This is expected to bolster demand for neuromorphic chips, which can help users to accelerate computing of complex applications, in a power-efficient manner. This, in turn, is expected to boost growth prospects of Intel, in the days ahead.
Per Grand View Research, global neuromorphic computing market size is projected to hit $6.48 billion by 2024.
In a bid to capitalize on growth prospects, companies like IBM, and Hewlett Packard are leaving no stone unturned with advanced research and development efforts in the domain.
Intel is evaluating prospects in 5G for IoT and data center, considering the significant demand of the technology in high growth domains. Robust mix of high-performance 2nd-Gen Xeon Scalable processors and solid demand from Cloud service providers is expected to drive near-term growth.
Nevertheless, higher expenses pertaining to 10-nm ramp up and constrained supply amid coronavirus outbreak in China remain concerns.
Zacks Rank & Stocks to Consider
Intel currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks worth considering in the broader sector are Microsoft (MSFT - Free Report) , Applied Materials (AMAT - Free Report) and Garmin (GRMN - Free Report) . All the three stocks currently sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Microsoft, Applied Materials and Garmin is currently pegged at 13.22%, 9.94%, and 7.35%, respectively.
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