Intel NASDAQ:INTC shares climbed about 6% in Tuesday trading after the chipmaker outlined memory enhancements for its Xeon server processors, expanded its artificial intelligence collaboration with Google Cloud, and continued efforts to reshape its data center operations, ahead of quarterly results due July 23.
Intel said select Xeon 6700P processors will support 1DPC 8000 MT/s RDIMM memory, compared with the current 6400 MT/s standard. The company expects the upgrade to increase memory bandwidth by as much as 20%, improve memory speeds by 25% and reduce latency by about 6%. Production availability is targeted for the August-to-September 2026 period.
Intel also broadened its multiyear relationship with Alphabet's Google Cloud (GOOGL), which plans to deploy Gemini Enterprise across engineering, supply chain and corporate functions. Intel said it will also use Google Cloud infrastructure to support AI agents, automate workflows and accelerate chip development.
Separately, Intel is continuing workforce reductions within its Data Center and AI Group as part of a broader restructuring under Chief Executive Lip-Bu Tan. The company did not disclose how many employees would be affected. Intel's Data Center and AI Group generated $5.05 billion in first-quarter 2026 revenue, up 22% from a year earlier.