Intel looked like a fallen giant. Now it's posting its fastest revenue growth in 15 years.
Intel has reported its strongest revenue growth in over 15 years, driven by a 59% surge in its data center and AI business. Despite past struggles and manufacturing delays, the company is now pivoting toward a foundry model to compete with industry leaders.
Why it matters
Intel's recovery is critical for the US semiconductor industry's competitiveness and its ability to catch up in the global AI hardware race.
Intel CEO Lip-Bu Tan Bloomberg/Getty Images Intel posted its strongest revenue growth in more than 15 years. The company's data center and AI business grew 59% as the chipmaker gains AI momentum. The results sent Intel shares soaring in after-hours trading. Not long ago, Intel looked like a fallen giant . Now, the chipmaker has posted its "strongest revenue growth in more than fifteen years," CEO Lip-Bu Tan said Thursday. The company's second-quarter results sent shares up more than 11% in after-hours trading. The company reported revenue of $16.1 billion, up 25% from a year earlier. It also reported adjusted earnings of $0.42 per share, nearly double Wall Street's expectations. The company's data center and AI (DCAI) business — an area where it has struggled to keep pace with category leader Nvidia — grew 59% year over year to $6.3 billion.
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