Overview
- Intel reported stronger-than-expected second-quarter results on July 23, with revenue of about $16.1 billion and adjusted earnings of $0.42 per share driven by a 59% jump in Data Center & AI revenue.
- Management said Intel 18A production hit key milestones and the company is committed to 14A high-volume production targeted for 2028, signaling progress on its advanced-node roadmap.
- Intel Foundry revenue rose roughly 31% to $5.8 billion and media reports say Google has ordered 3 million custom TPUs from Intel, a claim the company has not universally confirmed in its filings.
- GAAP accounting showed a large one-time net loss even as non-GAAP profit and gross-margin gains improved, and Intel raised 2026 capex to over $20 billion to fund equipment, clean rooms, and packaging capacity.
- Investors reacted with initial share gains followed by pullbacks as analysts praised execution on supply and margins but flagged valuation, supply constraints, and the funding and execution risks of a capital-intensive foundry scale-up.