Intel shares faced a downgrade from Citigroup despite the buzz around its recently announced partnership with Nvidia, which shook the markets with a $5 billion investment in Intel. The key worry is that Intel’s foundry business, a critical part of its turnaround strategy, faces stiff competition from industry leader TSMC, and Citi doubts Intel can catch up any time soon. Intel stock: Reasons behind Citi’s downgradeCopy link to sectionCiti’s caution stems from skepticism about Intel’s ability to translate Nvidia’s investment into long-term growth. Additionally, hopes for Intel’s foundry business benefiting from this deal appear misplaced, as Citi sees Intel’s manufacturing technology trailing rivals by several years. While Citi stays bearish due to valuation concerns and foundry execution risks, other Wall Street players adopt a more measured stance.