Intel Shares Eclipse Dot-Com Peak After Blockbuster Forecast

Intel Corp. shares hit a record high after the chipmaker delivered a sales forecast that shattered Wall Street expectations, showing that it’s finally benefiting from a boom in AI spending.

Revenue will be $13.8 billion to $14.8 billion in the June quarter, the company said Thursday in a statement. Analysts estimated $13 billion on average, according to data compiled by Bloomberg.