Intel forecast quarterly profit and revenue above estimates on Thursday, pushing its shares up 5.2% in after-hours trade and helping prompt the company to boost spending plans over the next two years as an AI data center buildout increases demand for its central processing units (CPUs).
Intel expects third-quarter revenue between $15.8 billion and $16.8 billion, compared with analysts' average estimate of $15.1 billion, according to data compiled by LSEG. Adjusted profit is expected to be 38 cents per share, compared with analyst estimates of 27 cents.
