Intel posted Q1 revenue of $13.58 billion vs. $12.3 billion expected, and adjusted EPS of $0.29 vs. $0.01. Read that again. Twenty-nine cents when Wall Street expected one cent. The data center and AI division led the way, climbing 22% to $5.1 billion as customers shifted back toward CPU-centric AI workloads alongside GPUs.
Intel also locked in a multiyear deal with Google to power AI inference and other workloads on Xeon chips. Q2 guidance came in at $13.8-$14.8 billion, blowing past the $13.11 billion consensus. The stock is up 80% this year already. Feels like the "Intel is dead" narrative might need a serious revision.