Intel has released figures suggesting that it is not only manufacturers of specialised accelerators who are profiting from the artificial intelligence boom. In the second quarter of 2026, the company’s revenue rose by 25 per cent year-on-year to $16.1 billion. Sales in the data centres and AI division increased by 59 per cent, reaching $6.3 billion. For the third quarter, the company forecasts revenue of between $15.8bn and $16.8bn.
This improvement is driven by demand for server processors. Nvidia’s graphics chips remain the backbone of the most demanding AI computations, but data centres also require traditional processors for system management, running applications and data preparation. This allows Intel to capitalise on the growth of AI infrastructure, even though the company is not the market leader in accelerators.
However, the financial picture is not entirely clear-cut. Intel reported a net loss of $11 billion under GAAP, mainly due to an accounting adjustment to the value of shares linked to a contract with the US government. Excluding one-off items, the company posted a profit of $2.2 billion.
The company has raised its investment plan for this year from $18 billion to over $20 billion. The funds are intended to support the expansion of production, advanced chip packaging and the development of foundry services. This strategy is in line with Washington’s efforts to boost semiconductor production in the US and reduce dependence on Asian suppliers.
The market remains cautious. Intel’s shares initially rose by around 6 per cent before the market opened, but later fell as investors focused on rising expenditure and the risks involved in implementing the plan.
Intel has regained momentum, but the sustainability of the recovery depends on securing customers for its factories and maintaining demand for server processors. Success could strengthen competition in the chip market and bolster the US supply chain. A failure would increase pressure on margins and cash flow.
