Intel’s share price just blew the doors off. One man thinks he knows the reason why

“Intel is where good reputations go to die,” the veteran Silicon Valley investor, Michael Marks, once said. Founded in the 1960s in Santa Clara, California, it was the classic tech manufacturing story of rags to riches and then drift—its technology business challenged by Nvidia, AMD, and Arm. AI appeared to be yet another insurmountable hurdle for a company built for an era when personal computers still seemed pretty neat.

On Friday, Intel’s shares hit a record high after announcing revenue forecasts described as “blockbuster”.