AMD, Arm gain after hours following blowout results from Intel

Intel’s much stronger-than-expected Q2 results lifted sentiment across the semiconductor sector, with AMD and Arm gaining in after-hours trading despite not having reported yet. Intel posted $16.13 billion in revenue versus $14.33 billion expected and EPS of $0.42 versus $0.21, its fastest revenue growth in nearly 15 years. The beat suggests demand for server CPUs is running ahead of supply and raises expectations for peers tied to data-center spending and AI-driven chip demand. AMD rose about 2.9% after hours and Arm about 4.3% as investors priced in a higher revenue backdrop for their upcoming earnings. Intel also guided Q3 revenue above consensus, reinforcing the view that the chip recovery may be broader and more durable than previously thought, though the sector still faces valuation and demand-supply volatility.