The report claims that Intel's 18A node is not only developing at pace but  boasts a better yield rate than Samsung's 2nm SF2 process, although it still lags behind TSMC's N2.

KeyBanc wrote: "We continue to hear constructive feedback on Intel's 18A process and hear that current yield rates have improved to 55 per cent, up from 50 per cent a quarter ago." The same analysts reckon Samsung's yield is limping along at about 40 per cent, while TSMC sits comfortably ahead with 65 per cent.

For a node mainly powering internal projects like Panther Lake, this steady yield climb is more than just a number. Intel needs these chips to be reliable if it's to deliver anything remotely close to what it promised.

KeyBanc reckons mass production of 18A silicon is still on track for next-gen mobile CPUs by the end of the year, with yield targets pushing 70 per cent by the fourth quarter of 2025.

"While Intel isn't expected to outperform TSMC in yield rates, having a capable node would be sufficient for the company," the note added.

Despite whispers of doom around 18A, the fact that Chipzilla can at least make it work internally seems enough for the analysts to call it a qualified win. Intel plans to follow up with 14A as the process node for external customers, hoping that by then it might be taken seriously enough to go head-to-head with TSMC's A14.

Panther Lake is now the one to watch, at least for punters curious whether this internal silicon can cut it in the consumer world. After years of excuses and misfires, there's still a flicker of optimism that Chipzilla might finally be getting its act together.