Intel lifts spending as AI-driven forecast beats Wall Street
Intel on Thursday projected third-quarter revenue of $15.8 billion to $16.8 billion, topping analysts' $15.1 billion estimate, and lifted its two-year spending plans as an AI data-centre buildout revives demand for its processors. The chipmaker's shares, down 2.3% at Thursday's close, jumped over 8% after hours. Intel cited surging appetite for CPUs powering agentic AI systems that autonomously handle coding tasks.