Intel shares climbed in premarket trading after the company issued a stronger than expected revenue forecast for the third quarter, indicating that growing demand for AI infrastructure is supporting its turnaround strategy. The chipmaker also increased its 2026 capital expenditure plan to $20 billion, up from the previously announced $18 billion. The improved outlook reflects rising demand for Intel’s data center central processing units, as businesses expand computing infrastructure to support artificial intelligence workloads. Under CEO Lip-Bu Tan, Intel has focused on strengthening its position in the AI semiconductor market while investing heavily in domestic chip manufacturing and foundry services. Industry analysts said the higher capital spending plan signals confidence in future demand, customer commitments, and expansion of Intel’s foundry business. Several analysts also raised their price targets for the company’s stock following the results. Intel’s shares have more than doubled this year, supported by optimism over its recovery efforts and increasing demand for AI focused computing. The company also noted that orders for its data center processors continue to outpace production capacity as AI adoption accelerates.
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https://www.reuters.com/business/intel-rises-strong-forecasts-signal-ai-boost-turnaround-2026-07-24
