Intel's stock jumps 11% as chipmaker rides AI boom to fastest revenue growth in almost 15 years
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Adding to this, Intel reported better-than-expected second-quarter results on Thursday, notching its fastest revenue growth rate for any quarter since 2011 and issuing guidance that topped expectations. The stock jumped 11% in extended trading at one point before slipping.
Meanwhile, Here's how the chipmaker did versus LSEG consensus estimates
Notably, Intel shares are up over 170% so far in 2026 as of Thursday's close after soaring 84% last year, when the U.S. government took a 10% stake in the company as part of an effort to support U.S. chip manufacturing. However, the stock has been in a slump more of late, dropping 28% in July.
As per the latest buzz, Despite the recent downturn, the company is getting a boost from the artificial intelligence infrastructure boom, which is helping sales of its server processors. Intel's 25% revenue growth was the fastest for any quarter since the third quarter of 2011 .
In further updates, "AI is driving unprecedented demand for compute," CEO Lip-Bu Tan shared in the statement. "As we continue to execute, Intel is well-positioned to capture sustainable growth across our CPU franchise."
On top of that, For the current quarter, Intel shared it expects adjusted earnings per share of 38 cents on revenue between $15.8 billion and $16.8 billion. Analysts were expecting revenue of $15.1 billion and EPS of 27 cents, according to LSEG.
Intel also shared it is starting to craft long-term agreements with customers for its server CPUs, some with pricing locked in and others focused on chip volume.
Source: CNBC