David Zinsner on capital expenditures
From Intel Corp ($INTC) Q1 2026 Earnings Call · · Castify Earnings Call
“We forecast capital expenditures in 2026 to be flat to last year versus our prior expectation of flat to down, reflecting increased capacity investments to support committed demand and a continued emphasis on improving FAB productivity and output.”
On , David Zinsner, Executive VP & CFO at Intel Corp, spoke about capital expenditures during Intel Corp ($INTC) Q1 2026 Earnings Call on Castify Earnings Call.
About David Zinsner
David Zinsner, Intel's executive vice president and CFO, discussed the company's first-quarter 2026 financial results on an earnings call. He reported that Intel delivered Q1 non-GAAP earnings per share of $0.29, above the company's guidance of break-even, citing higher revenue, stronger gross margins, and spending discipline. Zinsner stated that first-quarter revenue was $13.6 billion, $1.4 billion above the midpoint of guidance, and noted that demand continues to outpace supply. He said that Intel's collective AI-driven businesses now represent 60% of revenue and grew 40% year-over-year. Zinsner also addressed capital expenditures and a recent transaction. He forecast that capital expenditures in 2026 would be flat compared to the prior year, a change from an earlier expectation of flat to down, attributing the increase to capacity investments for committed demand. Zinsner stated that Intel closed a transaction to repurchase the 49% equity interest in the joint investment in Fab 34 in Ireland, describing it as a "highly accretive deal." Regarding foundry customer demand, Zinsner said that opportunities he had thought would be in the "hundreds of millions of dollars" level are instead appearing at a "billions of dollars per year" level, calling it "meaningful."