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Intel Corporation reports strongest revenue growth in over 15 years as AI demand drives second-quarter results

Intel Corporation reported better-than-expected second-quarter results on Thursday, marking the company's fastest revenue growth rate since 2011. The chipmaker reported revenue of $16.1 billion, a 25% year-over-year increase, while adjusted earnings per share reached $0.42, nearly doubling Wall Street expectations. CEO Lip-Bu Tan attributed the growth to the artificial intelligence infrastructure boom, which drove a 59% increase in data center and AI revenue to $6.3 billion. While the company has faced manufacturing delays and lost its spot in the Dow Jones Industrial Average in recent years, the latest results suggest it is gaining traction. Intel Corporation is also aggressively expanding its foundry business to manufacture chips for third-party customers. CFO David Zinsner noted that the company is currently supply-constrained as data center customers demand more than it can produce. The stock rose over 11% in after-hours trading following the announcement.

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