Intel’s performance marked a significant turning point. The company reported first-quarter revenue of 13.57 billion, up 7% year-over-year, and earnings per share of 0.29, both comfortably exceeding Wall Street expectations of 12.4 billion and 0.02 respectively. Most compelling was its forward guidance: second-quarter revenue projected at 13.8 billion to 14.8 billion, ahead of consensus estimates. CEO Lip-Bu Tan described the results as marking a reset, highlighting Intel’s sixth consecutive quarter of revenue surpassing internal expectations. The company’s market value has climbed from just over 80 billion a year ago to 408.91 billion -a transformation that reflects investor confidence in its strategic repositioning.
The markets responded decisively. Intel shares surged 21.86% to 81.38, breaking through their dot-com era peak from 2000. The broader Philadelphia Semiconductor Index rose 4.34% to an all-time high, extending gains exceeding 47% year-to-date. AMD and Arm joined the rally, gaining 13.44% and 14.50% respectively, signalling broad-based strength across chipmakers benefiting from AI infrastructure expansion.
Friday’s sharp rally reflected a deeper reality: chipmakers remain central beneficiaries of a global race to build advanced AI systems, from hyperscale data centers to AI-enabled personal computers and industrial applications. Semiconductor industry earnings are projected to deliver growth of 109.2% in the first quarter, far outpacing the broader S&P 500 technology sector’s projected 48.2%.
Nvidia, however, continues to set the pace. The company’s GPUs dominate the training of large language models, a dominance that has propelled its valuation beyond every other listed company globally. Nvidia reached 5.09 trillion in market capitalisation on Friday, crossing a threshold previously achieved in October 2025. By comparison, Apple stands at 3.96 trillion, Alphabet at 4.15 trillion, Microsoft at 3.13 trillion, and Amazon at 2.83 trillion.
Intel’s growth ambitions extend beyond North America. Gregory Ernst, the company’s corporate vice president and chief revenue officer, shared with Forbes Middle East that US government support for semiconductor leadership is enabling international expansion, with the Middle East identified as a strategic focus. Saudi Arabia and the UAE represent particularly important markets in this effort.
By reinforcing US manufacturing strength, we can bring more advanced products more quickly to regions building critical digital infrastructure, Ernst stated, emphasising that whilst Washington provides frameworks around supply-chain security and advanced technology governance, Intel’s commercial decisions remain independent.
The Middle East’s position in this global semiconductor race reflects its growing importance as a hub for digital transformation and technology investment. As countries across the region diversify their economies and invest in technological infrastructure, partnerships with leading chipmakers like Intel become increasingly valuable.