Intel (INTC) delivered strong Q2 earnings and raised Q3 guidance, but the stock fell almost 8% as investors focused on increased 2026 CapEx estimates exceeding $20 billion. Despite delivering earnings per share of $0.38 on revenue of $16.1 billion – easily surpassing Wall Street expectations of $0.21 in earnings and $14.43 billion in revenue – the stock surrendered almost 8% on Friday. Data center revenue reached $6.3 billion, significantly outpacing the $5.54 billion consensus estimate. Looking forward, the company projects third-quarter revenue between $15.8 billion and $16.8 billion, well ahead of the $15.06 billion estimate. The company confirmed layoffs within its Data Center Group to align its organizational structure with long-term strategic requirements.