US Stock Market Move | Q1 performance and guidance exceeded expectations across the board. Intel Corporation (INTC.US) surged over 25%, reaching a new all-time high.

On Friday, Intel Corporation (INTC.US) opened up more than 25%, hitting a historical high of $84.12. On the news front, Intel Corporation released first-quarter performance and second-quarter performance guidance that far exceeded market expectations, indicating that this long struggling chip manufacturer is benefiting from the AI construction boom. The financial report shows that Intel Corporation's first-quarter revenue increased by 7% year-on-year to $13.6 billion, significantly higher than the analysts' average expectation of $12.4 billion. Non-GAAP net profit was $1.5 billion, a 156% increase year-on-year; adjusted earnings per share were $0.29, up 123% year-on-year, also significantly higher than the analysts' average expectation of $0.01. Gross margin was 41.0%, compared to 39.2% in the same period last year. Intel Corporation expects second-quarter revenue to be between $13.8 billion and $14.8 billion, with the midpoint of $14.3 billion significantly higher than the analysts' average expectation of $13 billion; second-quarter adjusted earnings per share are expected to be $0.20, also significantly higher than the analysts' average expectation of $0.09; and second-quarter gross margin is expected to be 39%. Intel Corporation CEO Pat Gelsinger said that Intel Corporation delivered a "strong report card," performing beyond expectations. He expects the demand for processors for AI systems to continue to grow and stated that the company is "highly focused" on increasing factory production capacity, as they currently cannot meet all orders. Gelsinger said, "The demand is very, very large. We are working very hard to ensure delivery and meet the demand, but there is still a gap because customer demand continues to grow."