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Intel smashed Q2 estimates, but the stock cratered nearly 8% as analysts debated whether the foundry turnaround has a real catalyst. Revenue hit $16.1B vs. $14.5B expected, but the market fixated on what’s missing.
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Intel posted its strongest revenue growth in over 15 years, with Q2 sales hitting $16.1B and AI-driven data center revenue soaring 59%. The company also issued upbeat Q3 guidance, though shares were flat due to a U.S. market holiday.
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Intel is slashing jobs in its data center group as part of a broader restructuring, while SK Hynix denies rumors it will buy Intel’s Ohio fab. Shares jumped 8.64% on Tuesday after Fortinet became the first named customer for Intel’s foundry business.
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Intel announced a $5.7 billion investment to expand its Irish manufacturing hub, but the stock dropped 6% in after-hours trading. The market’s skepticism comes despite White House efforts to rally Apple, Nvidia, and SpaceX behind the chipmaker.
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OpenAI has proposed granting the U.S. government a 5% equity stake, valued at roughly $42.6 billion, in a bid to ease political pressure in Washington. Intel shares slid 5.25% in after-hours trading on the news.
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Intel (INTC) shares surged 6% in after-hours trading to $139.63 ahead of its Q2 2026 earnings release on July 23. Investors are betting on AI chip progress and foundry wins.