A master plan or just CPUs? Intel might be making a comeback

Revenue is growing again, but supply troubles continue to hold revenue back.

Updated Jul 24, 2026 11:07 AM / Published Jul 24, 2026 11:07 AM 2 min read

A master plan or just CPUs? Intel might be making a comeback — Intel CEO Lip-Bu Tan. Image credit: Intel

Is it Lip-Bu Tan’s master strategy or just a byproduct of the CPU spike? Either way, Intel’s turnaround effort is working, with the company’s Q2 revenue exceeding expectations off the back of data centre chip success.

Intel closed off the quarter with $16.1 billion in net revenue, a 25% increase year-on-year and more than $1 billion above the top end of its guidance for the period, with its data centre and AI business growing 59%.

CEO Tan told an earnings call: “As AI expands from training to inference and increasingly to agentic and multi-agent systems, general-purpose server CPU density continues to increase, and our core server CPU franchise is growing faster than ever.”

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Noah Bovenizer

Noah Bovenizer is a senior reporter with The Stack. He previously covered the transportation sector for Global Data. He has a first class degree in journalism and has also worked as a newsreader for Gaydio.