The remarkable turnaround at Intel

Intel's Q1 results exceeded expectations as surging demand for AI inference workloads drove sales of previously written-off CPU inventory. Shares jumped over 23% to $82.54, surpassing dot-com-era highs and pushing market cap above $416 billion. The shift toward inference computing — where CPUs play a larger role than in AI training — is benefiting Intel's Xeon server chips. AMD and ARM also gained over 11% on the same trend. Intel shares are up 120% year-to-date under CEO Lip-Bu Tan. The company also secured Tesla as a customer for its 14A foundry process, bolstering its contract manufacturing ambitions.