Data · CNBC Technology
Texas Instruments' stock rallies 19% for best day since 2000 as AI demand climbs
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Texas Instruments had its best day on Wall Street since 2000 after the chipmaker reported better-than-expected quarterly results and gave upbeat guidance due to high demand for its analog chips that are crucial for the AI data center buildout.
Key facts
- For the first quarter, Texas Instruments reported revenue growth of 19% to $4.83 billion, topping the $4.53 billion average analyst estimate, according to LSEG
- Texas Instruments said revenue in the second quarter will be between $5 billion and $5.4 billion, representing growth of 17% at the midpoint
- WATCH: First look at Texas Instruments' $60 billion U.S. megaproject, where Apple will make iPhone chips
- Texas Instruments is spending $60 billion to build three new plants in the U.S
Summary
For the first quarter, Texas Instruments reported revenue growth of 19% to $4.83 billion, topping the $4.53 billion average analyst estimate, according to LSEG. Texas Instruments said revenue in the second quarter will be between $5 billion and $5.4 billion, representing growth of 17% at the midpoint. CEO Haviv Ilan said on the earnings call late Wednesday that revenue in the company's data center segment increased around 90% from a year ago. With hyperscalers like Meta and Amazon building data centers at a dizzying pace, Texas Instruments is a major beneficiary.