Key Highlights

  • Intel (NASDAQ:INTC) reports third quarter 2026 results after the close on October 29, 2026, guiding revenue of USD 15.8 billion to USD 16.8 billion and non-GAAP earnings of USD 0.38 per share.
  • Nvidia bought more than 214.7 million Intel (NASDAQ:INTC) shares for USD 5 billion, or USD 23.28 each, a price well below the roughly USD 36 market level when the sale was filed.
  • Second quarter 2026 revenue was USD 16.1 billion, up 25%, with Data Center and AI revenue of USD 6.3 billion, up 59%, and Foundry revenue of USD 5.8 billion, up 31%.
  • Intel (NASDAQ:INTC) reported a GAAP loss of USD 2.16 per share, driven by a non-cash charge on escrowed shares tied to a U.S. government agreement, and non-GAAP earnings of USD 0.42.

What Intel Will Report

Intel (NASDAQ:INTC) reports on Thursday, October 29, 2026, with a call at 2 p.m. PDT, which is 5 p.m. ET. The company guided third quarter revenue to USD 15.8 billion to USD 16.8 billion, GAAP earnings of USD 0.31 per share and non-GAAP earnings of USD 0.38. Second quarter capex fell to USD 2.65 billion from USD 4.49 billion a year earlier, while management said it is meaningfully increasing spending on equipment, clean room space and substrates. Data Center and AI growth of 59% is the line to watch, along with Foundry customer news. Revenue of USD 16.1 billion in the second quarter rose 25%, so the bar for a third quarter beat is a continued rise in Data Center and AI.

The Nvidia Link

Nvidia (NASDAQ:NVDA) announced the USD 5 billion investment in September 2025 and Intel filed that the sale was complete in late December 2025. The partnership covers custom x86 processors for Nvidia AI platforms linked by NVLink, and x86 system-on-chips for PCs that integrate Nvidia RTX GPU chiplets. The chart shows Intel at USD 486 billion with arrows to Nvidia for both investment and hardware. Nvidia is therefore a shareholder, a customer and a competitor, and the pricing of the shares at USD 23.28 gave Nvidia an early paper gain, reported rather than confirmed. Nvidia, Intel and the hyperscalers also appear as linked nodes, so strength at one tends to help the others.

Risks and What to Watch

Intel's earnings are noisy because of non-cash charges, so headline GAAP results can mislead. Foundry growth depends on landing external customers, and the Nvidia products must ship on time. A mismatch also appears between guided non-GAAP earnings of USD 0.38 and a USD 0.28 consensus listed on a calendar page, which likely reflects different bases and was not reconciled. Amazon (NASDAQ:AMZN) reports the same evening, and Microsoft and Alphabet the night before, so cloud capex commentary may move the sector together. A guide below the USD 15.8 billion low end would raise questions about the recovery, while a beat would support the Foundry story and the case for new external customers.

Where Things Stand

Intel (NASDAQ:INTC) reports on October 29, 2026 with Nvidia as a shareholder and partner, and the outcome depends on guidance, Foundry customers and Data Center and AI growth rather than on the headline loss. The evidence for recovery is improving, with revenue up 25%, but earnings quality is mixed because of non-cash items. Management commentary on capex, Foundry customers and the Nvidia product timeline will set the tone, and investors should read non-GAAP and GAAP results together. Reaction to the numbers may be large given the stake Nvidia holds in the company.