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Intel Forecasts Q3 Revenue Up to $16.8B on Strong AI Chip Demand, Above Street Estimates

2026-07-24 00:31:44

INTC-2.27%

Intel forecast third-quarter revenue of $15.8 billion to $16.8 billion and adjusted earnings of 38 cents per share on July 23, both exceeding Wall Street estimates.

Stronger AI-related demand for data center chips drove second-quarter results. The company reported Q2 sales of $16.13 billion and adjusted earnings of 42 cents per share, with its data center and AI unit generating $6.26 billion in revenue. Intel's shares rose 5.2% in after-hours trading, and the chipmaker raised its 2026 capital spending forecast to $20 billion from $18 billion.

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