Intel Forecast Tops Estimates as AI Demand and Turnaround Drive Shares to Record High

Intel has fallen behind Nvidia in the AI accelerator race, but rising demand for server CPUs, fueled by AI inference and cloud expansion, has restored its core products as a major cash generator. Since taking over as chief executive on March 18, 2025, Lip-Bu Tan has pushed ahead with Intel Foundry, advanced packaging and cost reforms. The success of the turnaround is critical to U.S. efforts to expand domestic advanced manufacturing.

Intel reported first-quarter 2026 revenue of $13.6 billion on April 23, up 7% from a year earlier, with adjusted earnings of $0.29 per share. Data Center and AI revenue rose 22% to $5.1 billion. The company forecast second-quarter revenue of $13.8 billion to $14.8 billion, above Wall Street's estimate of about $13 billion. The shares closed 24% higher at a record high on April 24 and had tripled since Tan took office.