Intel's Revenue Increased by 25% to $16.1 Billion Driven by AI Demand

Intel's revenue increased by 25% year-over-year for the three months ending in late June, reaching $16.1 billion. The company's capital expenditures rose by $2 billion, totaling $20 billion this year. The primary driver of growth was chips for artificial intelligence data centers. In the current quarter, sales are expected to range from $15.8 billion to $16.8 billion, exceeding Wall Street forecasts. Product revenue amounted to $15.1 billion, while revenue from the manufacturing business grew by 31% to $5.8 billion. Revenue from the data center and AI segment increased by 59% to $6.3 billion. Adjusted net income was $2.2 billion, while the net loss under GAAP standards was $11 billion due to asset impairment adjustments. Intel's management noted that AI is creating unprecedented demand for computing power and confirmed plans to launch mass production of semiconductors using the latest 14A process technology in 2028.

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