Intel signals stronger growth as AI infrastructure spending gathers pace

Intel forecast quarterly profit and revenue above estimates on Thursday, helping prompt the company to boost spending plans over the next two years as an AI data center buildout increases demand for its central processing units.

 

Intel expects third-quarter revenue between $15.8 billion and $16.8 billion, compared with analysts’ average estimate of $15.1 billion, according to data compiled by LSEG. Adjusted profit is expected to be 38 cents per share, compared with analyst estimates of 27 cents.

Intel is benefiting from a boom in agentic AI, where autonomous agents carry out tasks such as computer coding on behalf of human users. 

 

Its shares have declined more than 25 per cent from a record close on June 22 amid a broader selloff in chip stocks, though shares remain up more than 170 per cent for the year.