SAN FRANCISCO: US semiconductor giant Intel on Thursday said it took in more money than expected in the first quarter amid “explosive” growth in demand for computer chips. Intel revenue was $19.7 billion during the first three months of this year, up nearly $1 billion from the same period in 2020, according to its earnings report.
“Intel delivered strong first-quarter results driven by exceptional demand for our leadership products and outstanding execution by our team,” chief executive Pat Gelsinger said in a release.
The results come as trends in remote work, school and socializing driven by the pandemic have revived interest in laptop and desktop computers and increased the need for data centers, all of which demand chips.
The chip industry is seeing a cycle of “explosive growth” and this year is on track to be one of the biggest ever for personal computer shipments, according to Gelsinger.
Mobileye, an arm of Intel specializing in technology for automated driving systems in vehicles, brought in $377 million in the quarter, up 48 percent from the same period a year earlier.