Intel forecast third-quarter revenue and profit above estimates on Thursday, as a boom in AI data centre buildouts boosted demand for its CPUs.
The company expects Q3 revenue between $15.8 billion and $16.8 billion. That is higher than analysts’ average estimate of $15.10 billion, according to LSEG data.
Intel said it is benefiting from growth in “agentic AI” — where autonomous AI agents carry out tasks like computer coding for human users. The shift has driven a resurgence in demand for data centre CPUs.
On the back of stronger demand, Intel also announced it will boost its spending plans over the next two years to support the AI-driven growth.
Investors reacted positively. Intel shares, which had closed down 2.3% on Thursday, rose over 8% in after-hours trading following the upbeat outlook.
