Intel and Oracle announced a multiyear agreement to expand Xeon computing capacity within Oracle Cloud Infrastructure, including the forthcoming Diamond Rapids processor. Oracle’s anticipated OCI X14 offerings are expected to run on the next-generation chip for enterprise applications, agentic AI, and inference. In the third quarter of 2026, Intel’s Data Center and AI segment generated $7.3 billion in revenue, up 78% year over year, while its client segment declined 5% to $8.1 billion. The company’s total revenue rose 21% to $16.5 billion, and the data center segment now accounts for nearly half of its sales. Despite the strong results and the Oracle partnership, Intel shares fell by approximately 13% to 22% after hours following the release because of PC market weakness and persistent supply chain constraints.
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