Instant Reaction: Intel Gives Strong AI-Fueled Outlook

<p>Intel&nbsp;gave a strong sales forecast for the current period, signaling that the struggling chipmaker is finally beginning to benefit from the giant build-out of artificial intelligence infrastructure.<br /><br />Revenue will be $13.8 billion to $14.8 billion in the quarter ending in June, the company said Thursday in a statement. Analysts, on average,&nbsp;estimated&nbsp;$13 billion, according to data compiled by Bloomberg. Earnings, excluding some items, will be about 20 cents a share, compared with a Wall Street prediction of 9 cents.<br /><br />The upbeat outlook suggests that Chief Executive Officer Lip-Bu Tan is making progress on a challenging comeback plan. After lining up major investments in Intel last year &mdash; helping to strengthen the company&rsquo;s balance sheet &mdash; Thursday&rsquo;s results suggest he&rsquo;s now delivering on a promise to improve its operations. <br /><br />Intel shares rose 14% in extended trading. The&nbsp;stock&nbsp;had gained 81% this year before the results were released, closing at $66.78.<br /><br />For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:</p> <ul> <li>Bloomberg Intelligence Senior Semiconductor Analyst Kunjan Sobhani</li> <li>Bloomberg Tech co-host Ed Ludlow</li> </ul><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>