Intel forecasts quarterly revenue above estimates on AI-driven server chip demand
Adjusted profit is expected to be 38 US cents per share, compared with analyst estimates of 27 US cents. Intel is benefitting from a boom in what is known as agentic AI, where autonomous agents carry out tasks such as computer coding on behalf of human users. In an interview, chief financial officer David Zinsner told Reuters that booming demand has prompted Intel to raise its capital expenditure forecast for this year from US$18-billion to US$20-billion.
- ▪Adjusted profit is expected to be 38 US cents per share, compared with analyst estimates of 27 US cents.
- ▪Intel is benefitting from a boom in what is known as agentic AI, where autonomous agents carry out tasks such as computer coding on behalf of human users.
- ▪In an interview, chief financial officer David Zinsner told Reuters that booming demand has prompted Intel to raise its capital expenditure forecast for this year from US$18-billion to US$20-billion.
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Open this photo in gallery:Intel CEO Lip-Bu Tan delivers a speech during the COMPUTEX exhibition in Taipei, Taiwan, last month.Cheng Chia Huang/Getty ImagesShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountIntel INTC-Q forecast quarterly profit and revenue above estimates on Thursday, anticipating strong demand for its server central processing unit (CPU) chips as the artificial intelligence boom fuels a computing infrastructure buildout.The company expects third-quarter revenue between US$15.8-billion and US$16.8-billion, compared with analysts’ average estimate of US$15.10-billion, according to data compiled by LSEG. Adjusted profit is expected to be 38 US cents per share, compared with analyst estimates of 27 US cents.
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