Intel Stock Surge: Intel Corporation (NASDAQ: INTC)’s first-quarter earnings, released on April 23, 2026, resulted in a major surge in the company’s stock price, and in after-hours trading, it rose by 20%. The chip manufacturer had a 1Q revenue of USD 13.6 billion compared to the analyst estimate of USD 12.42 billion and Non-Generally Accepted Accounting Principles (GAAP) Earnings Per Share (EPS) of USD 0.29 versus the estimate of USD 0.01, giving Intel its 6th consecutive quarter with revenue greater than expected due to the high demand for artificial intelligence (AI)-related silicon.
Key Highlights from Intel’s Q1 2026 Report
- The revenue from the Data Center and AI (DCAI) segment increased by 22% year-over-year (YoY) to USD 5.1 billion, reflecting the increasing importance of Central Processing Units (CPUs) for AI-related workloads in today’s fast-evolving tech landscape.
- Intel Foundry revenue increased by 16% to USD 5.4 billion as the company builds more assembly/test capacity in Penang, Malaysia.
- Intel has joined the Terafab project led by SpaceX, xAI, and Tesla as a strategic partner to re-imagine the manufacturing of silicon chips (the brain of a modern computer).
- NVIDIA’s DGX Rubin NVL8 systems will use the Intel Xeon 6 as their host CPU, reinforcing Intel’s position as a leader in AI infrastructure.
- Intel repurchased the 49% of a minority equity share of the joint investment entity associated with fabrication operations at Fab 34 in Ireland due to its substantial balance sheet enhancement.
The Trump Administration’s Windfall
The Trump Administration acquired Intel at about USD 20.47 per share in 2025. Given that the stock is currently trading around USD 80, the government’s holdings have grown to approximately USD 26.5 billion of unrealized gain with a nearly 290% return. The shares originated from the CHIPS Act and will provide warrants to purchase Intel’s common stock related to the funding of U.S. semiconductor manufacturing.
Intel’s Forecast 2026
For the second quarter of 2026, Intel expects revenue to be between USD 13.8 billion and USD 14.8 billion and a non-GAAP EPS of USD 0.20. The company is focused on increasing supply to support “unprecedented demand for silicon,” driven mainly by the AI transition from foundational AI models through inference and onto agentic applications; therefore, increased consumption of Intel’s CPUs, wafers, and advanced packaging will be required.
