Intel shares surged 24% on Friday, marking the company's largest single-day gain since 1987 as strong artificial intelligence demand and improved financial performance boosted investor confidence in the chipmaker.
Key Points
- Intel stock closed at $82.57, reflecting a 124% increase year-to-date following a significant recovery from 2024 lows.
- First-quarter revenue reached $13.58 billion, representing a 7.2% year-over-year increase that surpassed analyst expectations.
- The data center division reported $5.1 billion in revenue, a 22% jump driven by rising demand for central processing units.
- Financial firms Evercore ISI and Citi upgraded Intel to a buy rating, citing successful balance sheet restructuring and strategic execution.
- Intel is accelerating the development of its 14A chip technology, which is currently being evaluated by multiple customers including Tesla.