Intel forecast third-quarter revenue of US$15.8 billion to US$16.8 billion and adjusted earnings of 38 cents a share on July 23, both above Wall Street estimates.

Stronger AI-related demand for data-center chips lifted second-quarter results and sent the US chipmaker’s shares up 5.2% in after-hours trading.

The company reported second-quarter sales of US$16.13 billion and adjusted earnings of 42 cents a share.

Intel’s data center and AI unit generated US$6.26 billion in revenue, while its foundry business brought in US$5.77 billion.

Intel also raised its 2026 capital spending forecast to US$20 billion from US$18 billion.

Revenue at Intel’s data center and AI unit continued to recover from US$4.7 billion in the fourth quarter of 2025 and US$5.1 billion in the first quarter of 2026.

Intel Foundry’s revenue also rose from US$5.421 billion in the first quarter of 2026, though the unit lost US$2.437 billion at the operating level in that quarter.

The higher spending forecast comes as Intel has up to US$7.865 billion in CHIPS Act support for projects in Arizona, New Mexico, Ohio, and Oregon.

🔗 Source: Reuters

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