$Intel(INTC.US) is not considered a product for Apple's foundry business. Crescent Island and Diamond Rapids are likely the two most important products to be launched in 2027, addressing the current demand for inference and agentic capabilities. If Intel can capture a share of the inference computing market, its current valuation is still relatively low. Of course, there is significant uncertainty. Qualcomm previously developed an AI100 inference chip, which was a complete failure.