Lates News

Intel (INTC.O) has released unexpectedly strong revenue forecasts, indicating a surge in data center spending that is helping the chip manufacturer achieve a long-awaited recovery. The company expects third-quarter sales to reach between $15.8 billion and $16.8 billion. Even the lower end of this range easily exceeds analysts' average expectation of $15.1 billion. This forecast highlights Intel's growth momentum among data center customers who urgently need chips to meet the demand for artificial intelligence computing. Sales in this area surged by 59% last quarter, more than double the overall revenue growth of Intel. After the financial report was released, Intel's stock price rose by 13% in after-hours trading. Additionally, Intel's second-quarter revenue reached $16.13 billion, exceeding market expectations of $14.43 billion.