Intel has reported its fastest revenue growth in more than 15 years, with the semiconductor company saying the global build-out of artificial intelligence infrastructure is driving stronger demand for its processors and manufacturing services.
The results also matter beyond Intel because they suggest that the AI investment cycle is widening beyond specialist AI chips to include the central processing units, packaging technologies and semiconductor manufacturing needed to support large-scale AI systems.
Second-quarter revenue rose 25% year-on-year to $16.1 billion, while adjusted earnings per share came in at $0.42.
Intel also forecast third-quarter revenue of between $15.8 billion and $16.8 billion, ahead of market expectations.
Its Data Centre and AI business grew 59% to $6.3 billion, while Intel Foundry, its contract manufacturing business, recorded 31% revenue growth.
