Intel shares climbed in premarket trading on Friday, following a jump late Thursday after the company reported second-quarter results that beat expectations. The strong performance was fueled by ongoing high demand for artificial intelligence hardware.
Intel reported adjusted earnings of 42 cents per share on $16.1 billion in revenue, beating analyst estimates of 22 cents per share and $14.4 billion in revenue, according to FactSet. A year ago, the company posted a loss of 10 cents per share on $12.9 billion in revenue.
Intel Foundry revenue rose 31% from last year to $5.8 billion, beating estimates of $5.6 billion. Chief executive Lip-Bu Tan said that AI is creating record demand for computing power and that Intel is ready to achieve steady growth in its CPU business, custom chips, advanced packaging, and foundry network as it follows its strategy.
Intel expects third-quarter earnings of 38 cents per share and revenue between $15.8 billion and $16.8 billion. These forecasts are higher than Wall Street’s consensus estimate of 27 cents per share and $15.1 billion in revenue.
Intel shares rose 4% in premarket trading after jumping 12% in after-hours trading following the earnings report. The stock has climbed 172% this year as investors expect the company to keep benefiting from strong chip demand related to AI, especially for its CPUs that support agentic AI. Despite these gains, the stock was still 29% below its all-time closing high from June 22, 2026, as of Thursday’s close.
In recent weeks, Intel has also felt the effects of a broader shift away from chip stocks, as some investors wonder if the current level of AI infrastructure spending can last after big gains in the sector. Still, the company showed confidence in its outlook, saying on Thursday that it plans to significantly increase investment in equipment, clean-room capacity, and substrates to support expected growth this year and next.
