Intel shares jump 19% on upbeat next quarter revenue outlook
Business
Intel's stock shot up 19% after the company shared a surprisingly upbeat revenue outlook for the next quarter.
That move added a massive $64 billion to Intel's value and capped off an 81% rally this year.
The company expects to pull in $13.8 billion to $14.8 billion in revenue, well above what Wall Street was predicting.
Strong Intel AI demand, Intel-Tesla partnership
What's behind the boost? Demand for Intel's AI data center chips is strong, helping them outpace expectations even with tough competition from NVIDIA and AMD.
Under its CEO, Intel is also making moves like partnering with Tesla on new AI chip projects and selling off some assets—all part of its plan to stay relevant in the fast-moving semiconductor world.