Intel rises as strong forecasts signal AI boost for turnaround

July 24 : Intel's shares rose 6 per cent in premarket trading on Friday after bullish forecasts signaled the AI boom was propelling the chipmaker's long-awaited turnaround. The company forecast third-quarter revenue above Wall Street expectations and raised this year's capital expenditure estimate to $20 billion from $18 billion.Intel's improving outlook reflects growing adoption of its data center central processing units (CPUs) by customers building infrastructure for artificial intelligence, as CEO Lip-Bu Tan works to position the company as a broader beneficiary of AI-driven semiconductor demand despite Nvidia's lead in accelerator chips."The capex increase not only signals confidence in cash flow upside and demand visibility from long-term agreements for products, but also confidence