Intel Stock Jumps as Earnings Blow Past Expectations Amid Booming AI Demand
Intel Stock Jumps as Earnings Blow Past Expectations Amid Booming AI Demand
Kara GreenbergThu, July 23, 2026 at 9:54 PM UTC
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Intel CEO Lip-Bu Tan said “AI is driving unprecedented demand for compute”Credit: Cheng Chia Huang / Getty ImagesKey Takeaways -
Intel shares surged in extended trading Thursday after the chipmaker posted better-than-expected second-quarter results driven by booming AI demand.
The company also provided a revenue outlook for the current quarter that topped Wall Street estimates, and said it would increase its capital expenditures.
Intel’s stock is soaring after another stronger-than-expected quarter.
Shares of Intel (INTC) were up more than 5% in recent after-hours trading after the company posted earnings that blew past analysts’ estimates. Intel reported adjusted earnings per share of 42 cents on revenue that jumped 15% year-over-year to $16.1 billion, well above the adjusted EPS of 22 cents on revenue of $14.43 billion analysts surveyed by Visible Alpha called for.
The company said it expects third-quarter revenue of $15.8 billion to $16.8 billion, and EPS of 38 cents, which are both well above the analyst consensus.
CEO Lip-Bu Tan, who took over the helm of the struggling chipmaker in March of 2025, said Intel recorded its strongest revenue growth in more than 15 years, thanks to strong demand for its AI hardware.
“AI is driving unprecedented demand for compute, and as we continue to execute, Intel is well-positioned to capture sustainable growth across our CPU franchise, ASICs, advanced packaging and vast wafer foundry network,” Tan said in a release.
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Why This Matters to Investors
The strong results could reinforce confidence in Intel’s turnaround and reinvigorate enthusiasm for its stock, which has pulled back from last month’s highs.
CFO David Zinsner told investors during the company’s earnings call that Intel’s AI-driven business grew more than 70% and accounted for approximately 70% of revenue. The CFO also said the company is “meaningfully increasing” its investments in equipment and space to meet demand, which continues to outpace supply. Earlier in the year, the CFO had warned of supply pressures as the company contends with industry-wide shortages of certain components.
Intel said it now expects capital expenditures this year could exceed $20 billion, up from $18 billion previously.
Though shares of Intel have pulled back from last month’s highs in recent weeks, the stock remains one of the best-performing in the S&P 500 for the year after a flurry of high-profile agreements and better-than-expected results. Shares of Intel were up around 170% for 2026 through Thursday’s close.
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Source: “AOL Money”
