Intel shares soar on AI

Intel Corp. shares have surged 24% after the company reported first-quarter earnings that significantly outperformed market expectations.

The massive turnaround is being driven by an unprecedented explosion in demand for server processors used in artificial intelligence data centers.

CEO Tan Lip-Bu credited the success to a strategic shift toward AI-optimized hardware and a successful charm offensive at the White House, which secured a $36 billion government stake in the firm.

Investors are viewing the results as clear evidence that Intel is successfully repositioning itself as a central player in the global AI infrastructure boom.