The CEO of Intel says that the 'insatiable demand' for enough processing power to handle tons of data led it to a big beat on Wall Street expectations
Intel shares rallied more than 6% on Thursday after the chipmaker topped Wall Street expectations for the fourth quarter. The tech giant got a huge lift from its data center business, which benefited from robust demand processors from the cloud service providers.CEO Bob Swan said the strong cloud market was being fueled by an "insatiable appetite" for data and the processing power needed to handle it.The company also posted an upbeat outlook for the current quarter and for the year. Intel said it expects revenue of $19 billion for the current quarter, and $73.5 billion for the current year.Click here for more BI Prime stories.Intel's big bet on the market for data center chips appears to be paying off, but the chip giant is embracing a cautious approach to a market known for unexpected ebbs
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