Intel shares are soaring to new record highs, thanks in large part to booming demand for AI.
Demand for Intel's central processors from firms offering AI services was so strong in the first quarter that it sold even chips it had originally written off, a remarkable turnaround that sent the company's shares soaring on Friday.
Intel Corp (NASDAQ:INTC, XETRA:INL) shares surged 24% to around $83 on Friday following stronger-than-expected quarterly results, with analysts at Wedbush and Jefferies pointing to accelerating AI-driven demand for server chips and improving near-term visibility for the company's manufacturing roadmap. According to Wedbush, the quarter reinforced that compute demand, particularly for server CPUs, has become the dominant near- to intermediate-term growth narrative for Intel Corporation.
CNBC's Kristina Partsinevelos reports the latest news regarding Intel's earnings.
Which CPU company has dominated 2026 so far: Intel (NASDAQ:INTC | INTC Price Prediction), Arm Holdings (NASDAQ:ARM), or Advanced Micro Devices (NASDAQ:AMD)?
Intel delivered $13.6B revenue (+7% YoY) and $0.29 EPS, with demand exceeding supply across core segments. Data Center revenue surged 22% to $5.1B with 31% margins, despite ongoing share losses to AMD. Non-GAAP profitability improved to 41% gross margins, while GAAP showed a $3.7B loss from heavy reinvestment.
INTC posts strong Q1 2026 results as revenues rise 7%, fueled by Xeon CPUs, AI PCs, foundry growth and stronger pricing.
Shares of Intel Corporation NASDAQ: INTC opened sharply higher following Thursday night's earnings report, with an immediate jump of greater than 20%. The stock is not only extending its recent rally but has also broken above its previous all-time high, last seen during the peak of the dot-com era in 2000.
Nearly 211%. That's how much Intel shares skyrocketed over the last year as of Thursday's close, far outpacing Nvidia (87.8%) and Broadcom (123%), but still below the growth for competitor AMD, whose shares have rallied 223%.
Intel Corp (NASDAQ:INTC) stock is powering the Nasdaq Composite (IXIC) today, up 21% to trade at $80.77 at last glance, after nabbing a record high of $85.22 right out of the gate.
Advanced Micro Devices Inc (NASDAQ:AMD) stock is up 12% to trade at a new record high $341.86 at last glance, enjoying a halo lift from Intel's (INTC) strong quarterly report , which renewed AI trade optimism.
Intel shares are soaring to new record highs, thanks in large part to booming demand for AI.