Intel shares jumped more than 25% on Friday. This marked the stock's best single-day performance since 1987. The chipmaker reported adjusted earnings of $0.29 per share. Analysts had previously estimated earnings of $0.01 per share. Revenue reached $13.6 billion, surpassing the projected $12.32 billion. The Data Center and AI division recorded a 22% year-over-year revenue increase.
Elon Musk confirmed Tesla will utilize Intel's 14A manufacturing process. These chips will power Tesla's ambitious Terafab project. Tesla serves as the first major external customer for Intel's advanced foundry services. This partnership provides a critical endorsement for Intel as it competes with TSMC.
The news triggered a broad rally for semiconductor companies including AMD, Qualcomm, and TSMC. Intel's performance helped drive the tech-heavy Nasdaq Composite higher. Market sentiment remains focused on the ongoing expansion of global AI infrastructure.