Will AI be a buying material for Intel?

Intel fell again because investors looked seriously at the possibility that it would not proceed with construction of two semiconductor manufacturing plants in Germany. The two plants are scheduled to be put into operation in 2027, and the construction cost is approximately 33 billion dollars (one-third of which is borne by the European Union). Intel hasn't revealed much about the future of the fab, but Taiwan Semiconductor Manufacturing announced earlier this week that it has begun construction of a new $11 billion fab in Germany.

In response to today's fall, Intel shares are once again trading at a level slightly above their 10-year low. Is the devastated company an underrated artificial intelligence (AI) company, or is it an aging giant unable to bring victory to investors?