October 25,2019

Intel’s CEO Says That Cloud Providers like Amazon are Back to Buying Lots of Chips

It looks like the spending pause in the data center market that had been dragging Intel down may be ending. And that’s good news for the business that Intel expects to propel the chip behemoth to a new era of growth.

Intel shares climbed 3% in late trades after the chip giant reported stronger-than-expected results, powered by solid gains in its data center business. The Santa Clara, California-based semiconductor maker also boosted its quarterly and full-year outlook.

“We feel great about the quarter,” Intel CEO Bob Swan told analysts on an earnings call. “The market we see, the trends we see are as big as we’ve ever seen.”

Read the full article here.

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