For those who came in late, Chipzilla is under pressure to reassure PC and server-making clients that its technology will remain competitive as Samsung and TSMC are grabbing most of the headlines.

Speaking at Intel Innovation Day in Taipei, Gelsinger said the company's most advanced chip design, the 18A, will move into the test production phase by the first quarter of 2024.

"For 18A, we have many test wafers coming out at this moment," the CEO said.

"The invention phase of the 18A is now complete, and now we're racing to production."

This production node represents Intel's big bet to reclaim semiconductor manufacturing leadership by 2025.

The company also announced it will use this production technology to make chips for outside customers such as Ericsson, instead of using it only for its own products.

Its two biggest rivals, Samsung of South Korea and TSMC are racing to put their own most advanced chips into production in 2025.

These 2-nanometer chips are at a similar level as Intel's 18A. Gelsinger said his company has been aggressively pursuing its "five nodes in four years" plan since he returned to the company in 2021.

It usually takes at least two years for a chipmaker to move to a new production node.

Meanwhile, AMD saw its share price rise eight per cent as the cocaine nose jobs of Wall Street suddenly realised that its AI chips were pretty good and the share price was as cheap chips.

The optimism over AI chip sales helped ease worries about a disappointing AMD fourth-quarter forecast and put it on course for market value gains of nearly $13 billion, based on the $106.41 share price.

CEO Lisa Su on Tuesday provided a 2024 sales forecast for the first time for the MI300 chips, designed to compete against the advanced H100 chips sold by Nvidia.

She projected annual sales of more than $2 billion, and raised the chip's current-quarter revenue expectations by $100 million.

That would make the MI300 the fastest product to ramp to $1 billion in sales in AMD's history.