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Intel's stock gained 2.1% after its High-NA chipmaking program, in collaboration with ASML, moved beyond qualification into production for certain layers of Panther Lake processors. While this technical progress strengthens Intel's position in the foundry market, investors are awaiting evidence of competitive yields, disciplined spending, and significant customer orders to justify the current stock valuation, which is significantly above its GF Value estimate. The company still needs to demonstrate a clear business payoff from this manufacturing hurdle.