Intel's strong quarter is driving sharp gains in another chipmaker.

Intel has been a Wall Street darling of late even as the business has yet to find much momentum.

Yesterday's results announcement signals a return to form for chips player Intel, thanks to the AI boom and strategic agreements with 'partners'.

Intel's strong first-quarter financial results show the semiconductor maker can capitalize on a boom in chipmaking and AI, per two Wall Street shops.

Intel's strong quarter is driving sharp gains in another chipmaker.

Shares of Intel have more than doubled this year on optimism that backing from the government will help the company's position in AI.