Intel (INTC) is set to release its first-quarter earnings after the market close on Thursday, with artificial intelligence continuing to fuel rising demand for the company’s chips.

Intel shares surged nearly 10% in Frankfurt on Friday following the company’s third-quarter profit report, which exceeded analysts’ expectations, fueled by significant cost-cutting measures.

Intel (INTC) is receiving a $2 billion capital injection from SoftBank Group (9984.T), signaling strong investor confidence in the struggling U.S. chipmaker during its ongoing turnaround, News.Az reports, citingReuters.