Intel stock soars on Q1 earnings
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Intel, AI
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Intel shares jumped 14% Thursday afternoon as the chipmaker reported sales far above its forecasts and predicted continued strong demand for its products. The stock was trading at $76.25 a share, the highest point in Intel’s history.
The chip maker reported a 7 percent rise to $13.6 billion in its latest quarter, more than $1 billion more than Wall Street expected.
As Intel starts to reap the benefits of the AI data center boom, Lip-Bu Tan is crediting the major changes he made to the semiconductor giant in his first year as CEO for the “continued and steady progress” it has seen in that time.
By Zaheer Kachwala and Max A. Cherney April 23 (Reuters) - Intel forecast second-quarter revenue above Wall Street expectations on Thursday, underscoring booming demand for the chipmaker's server chips used in artificial-intelligence data centers.