Intel Shares Surge on Earnings Beat Driven by Foundry Growth and AI Demand

Intel shares jumped over 9% Friday after earnings beat, driven by foundry business gains and surging AI demand.

Foundry services revenue grew nearly 300% to $311M, showing progress in foundry business.

CEO says foundry business has "unique advantage" in AI and advanced packaging.

Added major new foundry clients this quarter, expects foundry growth to accelerate.

Bank of America expects continued sales growth on PC recovery, AI server adoption, foundry ramp.