Intel CFO David Zinsner Says Data Center and AI Revenue Could Beat Forecasts by Nearly $10 Billion

Intel CFO David Zinsner said data center and AI revenue could beat forecasts by nearly $10 billion by year-end, citing a gap between supply and demand. Crypto Briefing reported the comments following Intel's Q3 2026 earnings release on October 29, 2026.

Intel designs and manufactures semiconductor processors, AI accelerators, discrete graphics and foundry services for PC makers, enterprise data centers, hyperscalers, automotive OEMs and government customers, according to company records. The company was founded in 1968 and is headquartered in Santa Clara.

Intel's Q3 Data Center Growth and Q4 Guidance

Intel's Data Center and AI segment brought in $7.3 billion in revenue during the quarter, up 78% year-over-year and the segment's fastest growth rate in 15 years. Zinsner attributed the demand to Xeon server CPUs used for AI inference and agentic AI workloads. "Demand for Intel's server chips is outrunning supply," Crypto Briefing wrote, even as the PC business and a fab disruption weigh on near-term guidance.

Total Q3 revenue reached $16.5 billion, a 21% increase from the prior year, and non-GAAP earnings per share came in at $0.52 against expectations of $0.39 to $0.40. Client Computing and Physical AI Group revenue was $8.1 billion, down 5% year-over-year. Intel projected fourth-quarter revenue of between $15 billion and $16 billion, below market consensus, citing weakness in the PC market expected to persist through at least the first half of 2027 and an explosion at its Kiryat Gat fabrication facility in Israel. CNBC reported that Intel expects fourth-quarter earnings per share of 25 cents on revenue of $15 billion to $16 billion, below analyst estimates, and that the stock fell 16%.

Intel raised its capital expenditure for 2026 to $20 billion to increase supply capacity and has locked in multiple long-term supply agreements with hyperscalers and enterprises.

Intel's Funding and Partnership Record

Intel's funding records show a $20 billion post-IPO equity round in August 2026, according to akta.pro funding records. NVIDIA completed a $5 billion private placement in Intel in December 2025, acquiring 214.8 million shares at $23.28 per share and committing to co-develop PC and data center processors. In June 2026, Apple agreed to partner with Intel for custom chip design and manufacturing in the United States, with volume production targeted for late 2027 or early 2028.

Intel's Path to the October Earnings

Intel fell in late trading on October 29 after its fourth-quarter revenue forecast missed analysts' estimates, citing weak PC demand and supply-chain issues, Bloomberg reported. Shares had dropped 4% ahead of the Q3 earnings as foundry hopes faded, 247wallst reported. Intel also warned of a 67-employee layoff at its Folsom campus that would begin that weekend and could last several weeks, according to American City Business Journals.

What Comes Next for Intel

Intel's fourth-quarter revenue guidance of $15 billion to $16 billion covers the period through year-end, the window in which Zinsner said data center and AI revenue could beat forecasts by nearly $10 billion.