Intel Corporation

The thesis's core dynamics did materialize: AMD's EPYC server chips gained substantial data center market share from Intel on power-efficiency advantages, Intel's data center revenue declined, and Intel's stock ultimately fell to multi-decade lows amid these competitive pressures. However, with no price data and no known pitch date, the verdict rests entirely on these qualitative thesis events rather than measured returns against the short direction. The competitive deterioration the thesis predicted clearly occurred, but the lack of timing and performance data limits confidence.