Intel Revenue Jumps 25% to $16.1 Billion as AI Spending Shifts Toward CPUs
Updated
Updated · The New York Times · Jul 23
Intel Revenue Jumps 25% to $16.1 Billion as AI Spending Shifts Toward CPUs
3 articles · Updated · The New York Times · Jul 23
Summary
$16.1 billion in quarterly revenue marked Intel’s strongest growth in 15 years, with the company saying tech customers are increasingly buying CPUs alongside AI-focused GPUs.
Nearly 60% growth in Intel’s data center unit drove the beat, reflecting rising demand for chips that run AI applications and cloud services.
Shares climbed nearly 9% in after-hours trading after Intel also forecast further growth, topping Wall Street expectations.
An $11 billion quarterly loss still widened from $2.9 billion a year earlier, largely because of restructuring costs and a revaluation tied to the U.S. government’s $8.9 billion investment.