Intel Shares Surge on Earnings Beat Driven by Foundry Growth and AI Demand
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Intel shares jumped over 9% Friday after earnings beat, driven by foundry business gains and surging AI demand.
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Foundry services revenue grew nearly 300% to $311M, showing progress in foundry business.
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CEO says foundry business has "unique advantage" in AI and advanced packaging.
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Added major new foundry clients this quarter, expects foundry growth to accelerate.
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Bank of America expects continued sales growth on PC recovery, AI server adoption, foundry ramp.
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