Intel jumps 8% as revenue tops estimates on AI-driven demand
Chipmaker Intel (INTC) rose about 8% in after-hours trading after reporting second-quarter revenue that beat expectations, helped by strong demand for AI computing and data center chips.
The semiconductor giant posted $16.1 billion in revenue, up 25% from a year earlier, marking its fastest quarterly growth in more than 15 years. Adjusted earnings came in at $0.42 per share, while revenue was driven by a 59% jump in the company's Data Center and AI business.
CEO Lip-Bu Tan said AI demand continues to fuel growth across Intel's processor, foundry and advanced packaging businesses.
Intel also issued an upbeat outlook for the current quarter, forecasting $15.8 billion to $16.8 billion in revenue and adjusted earnings of $0.38 per share.
The strong report eased sentiment in tech stocks after a bruising session. Nasdaq 100 futures rebounded from the lows, trimming losses to about 1.6%.