A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/rose about 5% after the chipmaker's finance chief said on Wednesday that the company is on track to hit the upper end of its second-quarter revenue forecast.forecast quarterly revenue that stunned Wall Street, with the firm betting on the rapid adoption of AI tools.
"We're going to track at $12 billion to $12.5 billion as we close out the second quarter," Intel CFO David Zinsner said at the TD Cowen conference.Intel will be able to ride the AI wave as its foundry services could provide wafers to customers that have products for the AI market, Zinsner said.as it ramped up production and investments in manufacturing plants.
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