Intel (INTC) is making waves — alongside chip competitors Nvidia's (NVDA) and Advanced Micro Devices (AMD) — at the Computex 2024 conference in Taipei, Taiwan this week, unveiling its newest Xeon 6 processor.

Bank of America Senior Semiconductor Analyst Vivek Arya joins Yahoo Finance from the Bank of America Global Technology Conference to point out several of Intel's largest headwinds as it tries to expand and compete within the AI chip space.

"They have the [enterprise] incumbency, but they don't quite have the deployed base, the range of software developers. For example, Nvidia has 5 million developers on their CUDA platform," Arya says, who raised BofA's price target forecast on Nvidia to $1,500 per share. "So a lot of the enterprises, as they start to look towards their AI infrastructure, the first name they turn to is Nvidia for the reason that there's a lot of developers who are already familiar with Nvidia's infrastructure."

Watch Yahoo Finance's full interview with Nvidia CEO Jensen Huang.

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This post was written by Luke Carberry Mogan.