Lip-Bu Tan. Image Intel
After a tumultuous few years, Intel’s shares rose by up to 20pc last night as its Q1 results exceeded Wall Street expectations.
Intel’s first-quarter revenue was $13.6bn, up 7pc year-on-year, and it is forecasting second-quarter revenue of $13.8bn to $14.8bn, surpassing market expectation, as its outlook improves having fallen behind competitors like Nvidia.
“The next wave of AI will bring intelligence closer to the end user, moving from foundational models to inference to agentic,” said Lip-Bu Tan, CEO of Intel. “This shift is significantly increasing the need for Intel’s CPUs and wafer and advanced packaging offerings. With a solid foundation in place, we are addressing this opportunity by listening to our customers and driving their success with our technical expertise and differentiated IP.
“This deliberate reset to how we operate drove a sixth consecutive quarter of revenue above our expectations, as well as new and deepened relationships with strategic partners,” he added.
