Results
5Second-quarter revenue was $16.1 billion, up 25% year-over-year (YoY).
6Second-quarter earnings (loss) per share (EPS) attributable to Intel was $(2.16); non-GAAP EPS attributable to Intel was $0.42.
Outlook
Forecasting third-quarter 2026 revenue of $15.8 billion to $16.8 billion; expecting third-quarter EPS attributable to Intel of $0.31 and non-GAAP EPS attributable to Intel of $0.38.
Results
SANTA CLARA, Calif., July 23, 2026 – Intel Corporation today reported second-quarter 2026 financial results.
Management commentary
“AI is driving unprecedented demand for compute, and as we continue to execute, Intel is well-positioned to capture sustainable growth across our CPU franchise, ASICs, advanced packaging and vast wafer foundry network,” said Lip-Bu Tan, Intel CEO.
“Our Q2 results represent our strongest revenue growth in more than fifteen years, enabled by greater speed, accountability, and customer focus.”
“We delivered a strong second quarter, exceeding our financial guidance on robust demand and improved execution, including volume upside driven by higher factory yields and improved cycle times,” said Dave Zinsner, Intel CFO.
“AI-driven compute continues to strengthen, and to support expected growth this year and next across products and foundry, we are meaningfully increasing our investments in equipment, clean room space, and substrates.”
Results
Q2 2026 Financial Results
In the second quarter, the company generated $7.0 billion in cash from operations.
Business Unit Summary
Corporate events
The comparability of our Consolidated Condensed Financial Statements YoY was impacted by the deconsolidation of Altera.
Altera, a business offering programmable semiconductors, primarily FPGAs, and related products for a broad range of applications that was previously a wholly owned subsidiary, was deconsolidated from our Consolidated Condensed Financial Statements effective September 12, 2025, following the closing of the sale of 51% of Altera's issued and outstanding common stock.
Altera's financial results of operations were included in our Consolidated Condensed Financial Statements through September 11, 2025.
Results
Business Unit Revenue and TrendsQ2 2026 1vs. Q2 2025
Intel Products:
1Client Computing and Physical AI Group (CCPG) 2$8.9 billionup13%
Data Center and AI (DCAI)6.3 billionup59%
7Total Intel Products revenue15.1 billionup28%
Intel Foundry5.8 billionup31%
All other0.7 billiondown33%
Intersegment eliminations(5.5) billion
8Total net revenue$16.1 billionup25%
Business Highlights
Management commentary
Product Momentum
Intel advanced its agentic AI infrastructure strategy with new rack-scale AI infrastructure and disaggregated inference solutions built on Intel® Xeon® processors.
Intel, SambaNova and Foxconn demonstrated production-ready rack-scale infrastructure for inference and agentic workloads, while Vector Core Compute (VC2) unveiled a disaggregated agentic cloud combining Intel® Xeon® processors, SambaNova RDUs and NVIDIA Blackwell GPUs.
Corporate events
Intel launched next-generation data center CPU, Xeon® 6+, Intel's first server class product on Intel 18A for sustained performance under real-world power constraints.
Management commentary
3Intel expanded its physical AI and robotics momentum, with more than 130 customers adopting or testing Intel® Core™ Ultra Series 3 and Intel® Core™ Series 3 processors for edge AI and robotics applications.
Intel also introduced OpenVINO™ Physical AI, an open-source framework designed to help developers deploy robotics models across vision, language, reasoning and motion-control workloads.
Corporate events
Intel introduced Intel® Arc™ G-Series processors, a new family of products designed for next-generation handheld gaming systems.
Intel announced strategic collaborations with Foxconn, Siemens, Hitachi, Echo Neurotechnologies and Greenstone Biosciences to co-develop industry-specific AI and compute solutions powered by Intel processors and purpose-built silicon.
Intel introduced Ethernet® E835 portfolio, scaling from 10GbE to 200GbE across cloud, AI, enterprise, edge and telco infrastructure, demonstrating its networking leadership.
Management commentary
Foundry Momentum
4Intel Foundry advanced the Intel 18A family as Intel 18A-P entered risk production, meeting the timeline shared with customers and partners last year while extending the platform with enhanced performance, power, and thermal resistance.
Corporate events
Intel Foundry has entered high-volume manufacturing for a subset of Intel® Core™ Ultra Series 3 processors, code-named Panther Lake, using ASML’s EXE High NA EUV technology.
Intel expanded its purpose-built silicon business beyond networking and IPUs through a strategic collaboration with Fortinet to develop Fortinet Security Processor 6 using Intel's advanced design, packaging and manufacturing capabilities.
Management commentary
Intel/Page 3
Corporate events
2Intel announced a €5 billion investment to expand manufacturing capacity and increase production of Intel® Xeon® 6 and next-generation Intel® Xeon® processors built on Intel 3.
Intel expanded Bowers campus capacity, increasing Intel Mask Operations capability to support current and future leading-edge process technology development and manufacturing.
Management commentary
Culture & Leadership
Corporate events
Intel strengthened its leadership team with the appointments of Alex Katouzian to lead the Client Computing and Physical AI Group, Pushkar Ranade as chief technology officer, Seok-Hee Lee to lead advanced packaging, and Aparna Bawa to lead Intel’s global legal, ethics, compliance, people, and culture organization.
These appointments further align Intel’s product, technology, manufacturing, and culture organizations with the company’s innovation and execution priorities.
Intel and Google Cloud expanded their multi-year strategic collaboration to scale AI capabilities across Intel’s workforce and strengthen existing workflows as part of Intel’s AI-powered transformation.
Outlook
Business Outlook
Intel's guidance for the third quarter of 2026 includes both GAAP and non-GAAP estimates as follows:
Q3 2026GAAPNon-GAAP
Revenue$15.8-16.8 billion
Gross margin41.0%42.0%
Tax Rate1%11%
Results
Earnings (Loss) Per Share Attributable to Intel—Diluted$0.31$0.38
Management commentary
our pursuit of Intel 14A and other next-generation leading-edge process technologies, our investments in manufacturing expansion projects to manufacture products using such technologies and our efforts to secure product design wins with and demand commitments from potential significant external customers for the manufacture of products using such technologies;
Corporate events
the U.S. government's acquisition of significant equity interests in us;
Results
Total Intel82.383.2101.4
Corporate events
1 Altera, previously a wholly owned subsidiary, was deconsolidated following the sale of 51% of its common stock on September 12, 2025.
As a result, approximately 3.0 thousand Altera employees were excluded from Intel’s total employee count following the closing.
1 Escrowed Shares refer to shares of Intel common stock held in escrow to be released to the U.S. Department of Commerce (DOC) as we perform and receive cash proceeds in connection with our CHIPS Act Secure Enclave agreement with the U.S. Government.
Results
Supplemental Operating Segment Results
Corporate events
2 The "All Other" category includes the results of operations from other non-reportable segments, including our Mobileye business, our IMS business, startup businesses that support our initiatives, and historical results of operations from divested businesses, including Altera, which we divested on September 12, 2025.
Altera's results were included within "All Other" for periods presented through September 11, 2025.
Results
Intel/Page 10
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