Intel Corporation shares surged 23.6 percent on Friday, April 24, 2026, marking the company’s best single-day performance since 1987. The rally followed a first-quarter earnings report that significantly outpaced Wall Street estimates, driven by robust demand for artificial intelligence infrastructure and a successful ramp-up of new manufacturing nodes. The stock closed the session at $82.55, surpassing its previous all-time high set during the 2000 dot-com era.
For the fiscal first quarter ended March 28, 2026, Intel reported revenue of $13.6 billion. This figure represented a 7 percent increase year-over-year and stood $1.2 billion above the consensus analyst estimate of $12.4 billion. Adjusted earnings per share reached $0.29, far exceeding the $0.01 anticipated by analysts. On a GAAP basis, the company recorded a loss per share of $0.73, while cash from operations for the period totaled $1.1 billion.
The Data Center and AI (DCAI) segment was the primary driver of the quarterly beat, with revenue rising 22 percent year-over-year to $5.1 billion. Intel CEO Lip-Bu Tan attributed the growth to a structural shift in AI workloads, noting that the central processing unit (CPU) is increasingly serving as the orchestration layer for the entire AI stack. During the earnings call, management confirmed that Intel’s Xeon 6 CPU was selected by Nvidia to host its DGX Rubin NVL8 systems. Tan stated that the next wave of AI technology is transitioning from foundational models toward inference and agentic AI, a shift that has increased the necessity for Intel’s advanced packaging and wafer offerings.
Intel’s foundry business also showed growth, reporting $5.4 billion in revenue, a 16 percent increase from the prior year. CFO David Zinsner highlighted that the company’s 18A process node yields are currently running ahead of internal projections and are on pace to meet year-end targets. The foundry segment recorded an operating loss of $2.4 billion for the quarter, which management attributed to the intentional step-up in investment for the Intel 14A process to support future customer evaluations.
The Client Computing Group (CCG) posted revenue of $7.7 billion. While this was down 6 percent sequentially, it exceeded analyst expectations. Revenue from AI-enabled personal computers grew 8 percent sequentially and now accounts for more than 60 percent of the company's client CPU mix. Additionally, the company’s performance comes amid continued government support, with Intel having received approximately $20 billion in backing through the U.S. CHIPS Act to date.
Looking ahead, Intel provided second-quarter revenue guidance between $13.8 billion and $14.8 billion, surpassing the $13.1 billion expected by analysts. The company projects non-GAAP earnings of $0.20 per share for the upcoming period.
The surge in Intel shares contributed to a broader rally in the technology sector, which also benefited from reports of potential diplomatic negotiations regarding the ongoing conflict in the Middle East. The Nasdaq composite rose 1.6 percent to a record close of 24,836.60, while the S&P 500 climbed 0.8 percent to 7,165.08. In contrast, the Dow Jones Industrial Average fell 79.61 points, or 0.2 percent, to close at 49,230.71. Other semiconductor firms, including Advanced Micro Devices and Arm Holdings, also saw gains as the market responded to the positive sector data.