Intel’s share price just blew the doors off. One man thinks he knows the reason why |
Intel’s share price just blew the doors off. One man thinks he knows the reason why
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“Intel is where good reputations go to die,” the veteran Silicon Valley investor, Michael Marks, once said. Founded in the 1960s in Santa Clara, California, it was the classic tech manufacturing story of rags to riches and then drift—its technology business challenged by Nvidia, AMD, and Arm. AI appeared to be yet another insurmountable hurdle for a company built for an era when personal computers still seemed pretty neat.
On Friday, Intel’s shares hit a record high after announcing revenue forecasts described as “blockbuster”. New customers for its AI-chips, including Tesla, and June quarter revenue estimates of $14.8bn saw its share price jump 24%. The stock is now up 120% this year.
The AI boom has found another darling. Far from faltering, Lip-Bu Tan, who became Chief Executive of Intel in March 2025, is flourishing. Investors are grateful.
Greg Ernst is Intel’s Chief Revenue Officer. Speaking to Fortune at Mobile World Congress in Barcelona last month, he said that the strategy put in place then was now working, despite initial skepticism from some investors (Tan made it clear when he took over that laboring Intel faced........