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US Chipmakers Hit Record Highs as Intel Turbocharges AI Rally

On Friday, Intel shares rallied 24.4% to over $83, hitting a record high after the company reported first-quarter revenue of $13.57 billion and $0.29 earnings per share, smashing consensus estimates.
Intel CEO Lip-Bu Tan has driven the turnaround, with market valuation soaring from over $80 billion last year to more than $330 billion, as Tan credits a fundamental 'reset' in operations.
Data center revenue rose 22% to $5.1 billion, driven by what analysts call a 'CPU renaissance' shifting industry focus from graphics processing units back to central processing units for artificial intelligence workloads.
Strategic partnerships with Google, Tesla, and SpaceX are advancing, while Intel repurchased half of an Ireland-based plant from Apollo Global Management to expand production capacity and meet surging demand.
Projecting second-quarter revenue between $13.8 billion and $14.8 billion, Wall Street forecasts 3% growth for 2026 as executives prioritize increasing factory output to meet customer demand for processors.

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