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The chicken dining sector is a challenge for smaller restaurant chains that compete with popular fast-food establishments such as Chick-fil-A, Raising Cane’s, and Popeyes.

The public’s awareness of these chains, which is supported by national advertising, is a major obstacle local and regional chains face in generating sufficient traffic to their stores.

Chicken wings dining chain Island Wing Co.‘s franchisee Bartram Park IWC LLC filed for Chapter 11 bankruptcy to reorganize its business about a month after a separate company owned by the Bartram owner also filed for bankruptcy.

Island Wing Co. franchisee files for Chapter 11 bankruptcy to reorganize its business.Ali Waxman / Getty Images

Island Wing franchisee files bankruptcy

Bartram Park IWC filed its petition in the U.S. Bankruptcy Court for the Middle District of Florida on Aug. 6, 2026, listing $1 million to $10 million in assets and liabilities, according to PacerMonitor.

The debtor’s three largest creditors include MidFlorida Credit Union, owed $1.26 million; US Foods, owed $112,000; and ADP, owed over $41,000.

Funds would be available to pay unsecured creditors, according to the petition.

The Jacksonville, Fla., debtor did not give a specific reason for filing for bankruptcy. The petition does not indicate future plans for the Bartram location, though it continues operating, according to St. Johns Citizen.

Franchisee closes Island Wing location

The Bartram Island Wing Co. franchisee’s operator owns three locations that are open for business and closed one location in Fleming Island, Fla., in June after operating for 15 months.

The franchisee also owns the Tamaya location at 12689 Beach Blvd. in Jacksonville, which was not included in any Chapter 11 filing.

The Southside Boulevard location opened in 2020, the Bartram Market Drive location opened in 2022, Fleming Island opened in March 2025, and the Tamaya location opened later in 2025.

Bartram Park’s Island Wing Co. affiliate franchisee IWC Jacksonville LLC filed for Chapter 11 protection for its Southside Boulevard, Jacksonville, location in the U.S. Bankruptcy Court for the Middle District of Florida on July 2, listing $1.1 million in assets and $2.4 million in debts, according to court documents.

Specializes in baked chicken wings

Island Wing Co., which was founded in 2012 in Destin, Fla., consists of seven locations in Florida and two in Alabama. The restaurants specialize in baked traditional or boneless chicken wings, burgers, tacos, flatbreads, and entrees, including pork ribeyes, Bacon Wrapped Stuffed Shrimp, Island Grilled Shrimp, Caribbean Shrimp and Blackened Mahi Mahi.

Island Wing’s baked chicken-style of wings compete against fried chicken chains that have become popular in recent years.

Fried chicken chains are most popular

Fried chicken dining chains were the most popular subsector of the fast-food industry in 2025, as traffic to chicken concepts rose 3% for the year ending September 2025, while all concepts dropped 1% compared to the previous year, according to market research firm Circana.

Despite the popularity of chicken dining chains, chicken franchisees have closed restaurants, and in some cases, have filed bankruptcy and sold their locations.

Popeyes franchisee Liberty Restaurants Holdings, which operates Popeyes restaurants in Upstate New York, closed a location in Cicero, N.Y. on April 30, 2026,” Syracuse.com reported, and one in Oswego, N.Y., on March 15, 2026, the store’s former manager Mike Ward confirmed to WSYR.

And major Popeyes Louisiana Kitchen franchisee Sailormen Inc. divested of all 130 of its fried chicken locations through sales and closings after it filed for bankruptcy in January 2026, according to court papers.

Island Wing Locations:

Destin: 981 US Hwy. 98 East, Destin, Fla.

Jacksonville Bartram Market: 360 Bartram Market Dr., Jacksonville, Fla.

Jacksonville Southside: 4409 Southside Blvd., Jacksonville, Fla.

Jacksonville Tamaya: 12689 Beach, Blvd., Jacksonville, Fla.

Orlando: 2079 Town Center Blvd., Orlando.

Magnolia Tallahassee: 218 S. Magnolia Drive, Suite 101, Tallahassee, Fla.

Market Street Tallahassee: 1370 Market St., Tallahassee, Fla.

Daphne, Ala.: 29740 Urgent Care Drive, Daphne, Ala.

Gulf Shores Ala.: 3947 Highway 59, Suite 100, Gulf Shores, Ala.

Source: Island Wing Co.

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You may have opted into ATM overdraft fees without even realizing it.
Some people figure this out after withdrawing money from an ATM, incurring a negative balance and ending up with an overdraft fee. Luckily, it’s easy to verify if you have opted into this service, knowingly or not.

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Why you have to opt in to ATM overdraft fees
Regulation E is a government regulation that requires that banks have you opt into overdraft services before charging overdraft fees for ATM withdrawals or debit card transactions that exceed the available balance. Affirmative consent via written or electronic confirmation is required, and the customer must also be informed that they can revoke consent at any time.
An overdraft occurs when a bank approves a transaction that exceeds your balance. Then, you receive an overdraft fee since the bank had to essentially lend you money to complete a transaction. However, overdraft services do not guarantee that every purchase that exceeds your balance will be approved. Consumers who incur overdrafts often may face more restrictions.

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The rule doesn’t cover every kind of overdraft
The opt-in requirement for Regulation E only applies to ATM withdrawals and one-time debit card transactions, not every overdraft service. Checks, ACH transfers and certain recurring electronic payments can be treated differently. That means you may still receive overdraft fees even if you opt out of overdraft for ATM withdrawals and debit card transactions.
Some banks are more flexible with overdrafts. While some banks charge you immediately when your balance becomes negative, others give you an overdraft line of credit, which lets your balance stay negative without incurring an overdraft. Some banks also let you link another account so they can pull from that balance to prevent your checking account from having a negative balance.
While overdraft services can be convenient for one purchase that needs to go through, you don’t want to get used to spending more money than you have in your accounts.
How to check whether you opted in
You can typically check your status by logging into your bank account and searching your account settings, then looking for “overdraft,” “overdraft coverage” or similar language. That usually shows relevant information that can help you go deeper into your settings and opt out.
If you cannot find out if you are opted in or not, you can contact a representative and ask if you are opted into overdrafts for ATM withdrawals and debit card transactions. It’s also a good idea to request a copy of the opt-in or confirmation if you do not recall opting into this option. You can ask the representative to opt you out on the spot.
Opting out will prevent overdraft fees from accumulating on those types of transactions — but it also means those withdrawals and purchases will be declined instead of being approved for an overdraft fee. You won’t avoid overdrafts entirely, as some transactions can still overdraw your account. If you disagree with an overdraft fee, you can dispute it with the institution or the Consumer Financial Protection Bureau.

If you collect $1,400 a month in Social Security and have defaulted on a federal student loan, you could lose $210 of that check once the government lifts its current pause on collections. 

An estimated 452,000 borrowers ages 62 and older have defaulted on student loans and are likely receiving Social Security benefits, the Consumer Financial Protection Bureau reported. 

On August 17, 2026, Senator Bernie Sanders (I-Vt.) announced he would introduce the Stop Social Security Garnishment Act of 2026 to prohibit such withholding, with formal introduction planned for September when the Senate reconvenes. 

Similar proposals have been introduced since 2015, and none have passed. What retirees do before collections resume may matter more than any bill moving through Congress.

The default surge behind Sanders’ proposal

Sen. Sanders announced the legislation alongside cosponsors Sens. Elizabeth Warren (D-Mass.) and Ed Markey (D-Mass.), and the bill will be formally introduced when the Senate reconvenes in September.

Sen. Bernie Sanders (I-Vt.) argued retirees already facing rising costs should not lose benefits to old education debt.

In the richest country in the history of the world, no senior should have their Social Security payments taken away from them to pay back student debt…This is especially true when seniors throughout the country already cannot afford the skyrocketing price of healthcare, prescription drugs, groceries and housing

About 9.5 million borrowers were in default as of March 2026, nearly double the 5.3 million reported nine months earlier, according to Office of Federal Student Aid data analyzed by the Associated Press, and together, they owed approximately $233 billion.

A federal court vacated the Saving on a Valuable Education (SAVE) plan on March 10, 2026, and starting July 1, 2026, servicers began sending 7.5 million enrolled borrowers 90-day notices to choose a new plan.

How much the government can take from your check

The Debt Collection Improvement Act of 1996 authorized the Treasury Offset Program to reduce your monthly Social Security payment by up to 15%, according to the Social Security Administration. 

The government uses this tool to recover defaulted federal student loan debt, and no court order is required.

The law protects the first $750 of your monthly benefit from offset, a threshold that has not been updated since 1996 and now sits $400 below the federal poverty line, according to the CFPB.

The government can withhold up to 15% of Social Security benefits for defaulted federal student loans, leaving vulnerable retirees with less income.alvaro gonzalez / Getty Images

Most of your garnished money goes to fees, not your debt

The CFPB’s January 2025 report contained a finding absent from most coverage of the Sanders bill: nearly three-quarters of the money the Department of Education collects through Social Security offsets goes to interest and fees, not to paying down loan principal.

The Treasury charged the Education Department between $13.12 and $15 per Social Security offset in the 2016-2019 period the CFPB examined, and the Education Department often passes those fees on to borrowers.

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A Government Accountability Office audit reinforced the pattern, and about half of older borrowers remained in default more than five years after offsets began.

Nearly a third of those 50 and older with offsets lasting five years or longer saw their balances grow during that period. Most owed less than $10,000, yet 43% had their loans for 20 or more years.

What happens when the pause ends

The Trump administration paused Social Security offsets in June 2025, then broadened the pause in January 2026 to cover wage garnishment and tax refund seizures, according to the US Education Department.

The Education Department tied the delay to rolling out the new Repayment Assistance Plan.

The RAP plan launched on July 1, 2026, which means the stated justification for the pause is gone. No new date has been set, and when CNBC asked for a timeline, the spokesperson referred back to the January announcement.

What borrowers can do before collections restart

If your federal student loans are in default, taking action before collections resume can give you more options and potentially prevent additional financial consequences. 

The right choice depends on factors such as your income, ability to make monthly payments, credit situation, and eligibility for specific federal programs. 

Here are the main options, as outlined by Federal Student Aid and resources from the National Association of Student Financial Aid Administrators.

Paths out of default identified by federal agencies and NASFAA

Loan rehabilitation requires nine on-time payments within 10 months and removes your default status entirely. Your payments can be as low as $5 per month, the National Association of Student Financial Aid Administrators (NASFAA) reported, though that minimum rises to $10 for rehabilitations completed on or after July 1, 2027, under the One Big Beautiful Bill Act.

Direct Consolidation Loans resolve your default faster but leave it on your credit record, the National Consumer Law Center noted.

The Repayment Assistance Plan sets your payments between 1% and 10% of income.

Total and Permanent Disability discharge is available if a qualifying condition prevents you from working.

Financial hardship objections let you request a reduced or eliminated offset under the Debt Collection Improvement Act.

“Default is always more expensive, whether it be monthly or whether it be in the long term,” Betsy Mayotte, president of the Institute of Student Loan Advisors, told PublicSource.

Why you can’t count on this bill to protect you

Sanders’ bill has only Democratic and Independent sponsors.

The Republican-controlled Senate passed the One Big Beautiful Bill Act in July 2025, restructuring student loan repayment options but leaving intact the Treasury Offset Program authority this proposal would restrict.

Comparable bills introduced in 2015, 2023, and 2025 by members including Sens. Ron Wyden and Cory Booker never advanced to a floor vote.

The government can seize up to 15% of your Social Security for defaulted student loans, and your current protection could be lifted at any time.

Sanders’ bill highlights the threat, but CFPB data shows most of your garnished money would go to interest and fees rather than reducing your debt. 

Related: The latest Social Security warning is here; future retirees should pay attention

Fear travels faster than arithmetic — and it moves fastest around the one household bill you cannot skip, defer, or really shop your way out of.

Groceries have been the sorest spot in American household budgets since 2022, when food prices rose 9.9% in a single year, the fastest pace since 1979, according to the USDA Economic Research Service. Prices never came back down. They just stopped climbing as quickly.

That history leaves a lot of people primed to believe the next warning. The Strait of Hormuz closure earlier this year did upend the fertilizer trade, and fertilizer does feed into what farmers plant and what you eventually pay at the register. The chain is real, which is exactly why the details matter.

So when a warning carrying a major bank’s name lands in that environment, it does not need much help to travel.

A JPMorgan (JPM) fertilizer analysis has been recirculating this week alongside a figure suggesting grocery prices could jump 12.3%. I read both the underlying research and the government data behind that number before writing a word of this.

The scary part turns out not to be what is not being shared.

How fertilizer prices reach your grocery cart

Most of the world’s crops depend on nitrogen fertilizer made from urea and ammonia, and the Middle East accounts for roughly 42% of global urea exports and 27% of ammonia exports, according to J.P. Morgan Global Research.

When the Strait of Hormuz closed, those shipments stalled during planting season. Global nitrogen benchmarks jumped 25% to 50% from the end of February, the bank’s European chemicals team found.

Related: Tyson Foods’ earnings reveal worrying food inflation trend

Nitrogen is unforgiving on timing. It has to be in the ground when the crop goes in, and there is no meaningful reserve to draw down. Miss the window and the yield is smaller.

That is the transmission belt, and TheStreet has traced how the Hormuz closure fed into American food costs before. Higher input costs push farmers to plant less or switch crops, and smaller harvests reach shelves months later as higher prices. 

“Rising fertilizer prices could lift global food inflation temporarily to 4-5%,” said Nora Szentivanyi, a senior global economist at JPMorgan. Note the word temporarily, and note that the estimate is global rather than American.

What the USDA forecast actually says about 2027 groceries

Here is where the viral version breaks down. The 12.3% figure is real, and it does come from the government. It is not a forecast.

It is the upper bound of a 95% prediction interval for 2027 grocery prices. The midpoint, which is the actual forecast, is 2.9%. The lower bound is negative 5.6%, meaning the same model also allows for grocery prices to fall.

The agency is explicit about which figure to use, saying discussions should “focus on the midpoint of these forecast intervals,” according to the USDA Economic Research Service. The band is wide because 2027 is far out, and it narrows as the year fills in.

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I ran the household math both ways, because that is where this stops being a statistics quibble. A family spending $800 a month on groceries spends $9,600 a year. At the viral 12.3%, that bill rises about $1,181. At the USDA’s actual midpoint, it rises about $278.

The gap between the number being shared and the one the agency published is roughly $900 a year. Build a budget, a withdrawal plan or a hedge around the first figure and you have built it around a tail.

Where nitrogen prices went after the spike

The second problem is the calendar. The JPMorgan analysis making the rounds was published April 7, four months ago, and the market has moved a long way since.

The bank’s own chemicals analyst wrote then that elevated prices would hold through the second quarter before correcting in the back half. That is close to what happened.

Retail urea peaked near $864 a ton in mid-May and averaged $678 in the first week of August, according to DTN Progressive Farmer. Anhydrous ammonia fell from $1,126 to $963 over the same stretch, and UAN32 dropped 23% from its peak to below year-ago levels.

Here is the current scoreboard, which looks nothing like a building crisis:

Retail urea averaged $678 a ton in early August, down roughly 21% from its May peak, according to DTN Progressive Farmer.

Beef and veal prices are forecast to rise 10.7% in 2026, the USDA Economic Research Service reported.

Egg prices are projected to fall 30.7% this year, the same USDA outlook shows.

Fresh vegetable prices are projected to rise 6.8%, per USDA data.

None of that means the all-clear has sounded. Phosphates are still climbing, with DAP up 12% and anhydrous up 26% from a year earlier. Nitrogen has come well off its peak without returning to pre-conflict levels, and the strait remains only partially open.

“I’m not optimistic fertilizer prices will drop,” said Frayne Olson, a crops economist at North Dakota State University Extension, in comments reported by DTN Progressive Farmer. Holding steady, he said, would be the best case.

A JPMorgan fertilizer warning is spreading with a 12.3% USDA figure attached.Sanya Kushak / Getty Images

What is actually pushing your grocery bill higher

Now the part worth your attention. Grocery inflation is real this year, and it is concentrated in one aisle.

Beef and veal ran 11.8% higher this June than a year earlier, and USDA forecasts a 10.7% rise for the full year.

The reason has nothing to do with the Persian Gulf. The American cattle herd has shrunk to its smallest size in 75 years, with wholesale beef at record highs for this point in the calendar.

That is a cattle cycle, and cattle cycles resolve on a multi-year clock. Rebuilding a herd means holding back breeding stock, which means selling fewer animals now, which keeps prices high while the herd grows.

Eggs, the villain of the last two years, are forecast to fall more than 30% in 2026. Overall grocery inflation is running 2.7%, close to the historical norm. That is a slower burn than the case that cheap food is over, but it is a different problem than a supply collapse. The story in your cart is a beef story wearing a supply-crisis costume.

How to think about your food budget moving forward

The useful response to a food-price scare is not to buy a hedge. It is to know which line items are moving and adjust the cart.

A 10.7% jump in beef against a 2.7% average means substitution does more for your budget than any asset allocation will.

Watch the USDA’s monthly outlook rather than a screenshot of it. The September update will tell you more about 2027 than any April research note can.

The broader lesson outlasts this scare. When a single alarming percentage circulates without a range attached, the range is usually the story. This one was worth about $900 a year, and it pointed at the wrong aisle.

Related: UBS sends strong verdict on food inflation, economy

Average mortgage rates today

Mortgage Type
Label
Rate
APR

30-Year Fixed
Most Popular
6.59%
6.63%

30-Year FHA
Lower Credit
6.09%
7.3%

30-Year VA
Military
6.16%
6.32%

30-Year Jumbo
High Balance
6.74%
6.76%

15-Year Fixed
Shorter Term
5.86%
5.93%

7/6 ARM
Shorter Term
6.31%
6.38%

HELOC
Home Equity
7.89%
7.89%

Home Equity Loan
Home Equity
8.21%
8.22%

Updated on 08/18/2026

Rate data provided by RateUpdate.com. Displayed by Mortgage Research Center, LLC, NMLS# 1907, Equal Housing Opportunity, Payments do not include taxes or insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and Product details

The rate on a 30-year fixed-rate mortgage continued to slowly inch higher, averaging 6.63% APR to end the day on Tuesday.
Key mortgage rate averages:

The 30-year fixed-rate mortgage averaged 6.63% APR
The 30-year fixed-rate FHA mortgage averaged 7.30% APR
The 30-year fixed-rate VA mortgage averaged 6.32% APR
The 30-year fixed-rate jumbo mortgage averaged 6.76% APR
The 15-year fixed-rate mortgage averaged 5.93% APR
The 7/6 adjustable-rate mortgage averaged 6.38% APR
The rate on a HELOC averaged 7.89% APR
The rate on a home equity loan averaged 8.22% APR

Mortgage rate trends
Mortgage rates are holding steady in the mid-6% range and are likely to remain there for now. Concerns over rising consumer prices and the ongoing conflict in the Middle East are applying upward pressure on rates, keeping them at their highest level so far this year.
The affordability gains seen earlier this year have largely disappeared. Most housing experts believe rates are likely to end 2026 averaging between 6.4% and 6.5%, higher than they were at the end of 2025. If that scenario holds true, many homebuyers are going to be priced out of the market for the third year in a row.
Which loan is best for you?
When shopping for a mortgage, you may be offered several loan options that will fulfill different needs. Here’s a rundown of the most common loan types you’ll find, and who they work best for.
30-year conventional mortgage: Conventional loans work best for borrowers who have a credit score above 620, have saved enough to make a down payment of at least 3% and are looking for flexibility in the type of property being purchased.
30-year Federal Housing Administration (FHA) mortgage: FHA loans are good for first-time homebuyers, borrowers with less-than-perfect credit scores or those with a high debt-to-income ratio.
30-year U.S. Department of Veterans Affairs (VA) loan: Specifically designed for active duty and retired service members, members of the National Guard and Reserves, and surviving spouses. Offers 0% down loan options, competitive rates and accepts less-than-perfect credit scores.
30-year jumbo loan: Good for homebuyers purchasing property that is priced above the Federal Housing Finance Agency (FHFA) conforming loan limit. In 2026, that limit is $832,750 in most of the U.S. but increases to $1,249,125 in high-cost areas.
15-year fixed-rate loan: Borrowers who prefer a shorter loan term and can afford to make higher monthly payments will pay less overall interest with a 15-year mortgage and pay off the loan faster.
7/6 adjustable rate loan: Good for a buyer who wants to lock in a favorable interest rate for a set period of time and either plans on selling the home before the interest rate starts, is willing to make a higher monthly payment once the rate becomes variable or is open to refinancing the loan.
Home equity line of credit (HELOC): A good option for a homeowner who wants to access the equity they’ve accumulated in their home and have an open line of credit to use as needed.
Home equity loan: Another option for a homeowner who wants to access their home equity and have the financial capacity to take on a second mortgage.

How mortgage rates affect affordability
The rate on your mortgage can make a big difference in how much home you can afford and the size of your monthly payments. That’s true whether buying your primary residence, an investment property or refinancing an existing loan.
Here’s an example. If you bought a $250,000 home and made a 20% down payment of $50,000, you would end up with a starting loan balance of $200,000. On a $200,000 home loan with a fixed rate for 30 years, here’s what you would pay:

At a 3% interest rate = $843 in monthly payment (not including taxes, insurance, or HOA fees)
At a 4% interest rate = $955 in monthly payment (not including taxes, insurance, or HOA fees)
At a 6% interest rate = $1,199 in monthly payment (not including taxes, insurance, or HOA fees)
At an 8% interest rate = $1,468 in monthly payment (not including taxes, insurance, or HOA fees)

Experimenting with a mortgage calculator allows you to find out how much a lower rate or other changes could impact what you pay. A home affordability calculator can also estimate the maximum loan amount you may qualify for based on your income, debt-to-income ratio, mortgage interest rate and other variables. The Consumer Financial Protection Bureau can also provide a range of rates offered by lenders in each state.

Current mortgage rates FAQs
What is a 30-year mortgage rate right now?
The average rate on a 30-year fixed-rate mortgage is 6.63% as of August 18, according to Money’s rate data. Other rate surveys show 30-year rates averaging over 6.7%.
Can you get a 4% mortgage rate?
No, not under current market conditions. A 30-year fixed-rate loan is averaging in the mid-to-6% range as of August 17.
Will we ever see a 3% mortgage rate again?
It is unlikely that mortgage rates will fall below 3% in the near term, unless a severe economic downturn occurs. However, rates were averaging in the mid-3% range prior to the pandemic, so a return to that range at some point in the future is not entirely out of the question.
How much is a $300,000 mortgage at 7%?
The monthly payment on a 30-year, $300,000 conventional mortgage at 7% is $1,995.91, excluding taxes, insurance and HOA fees. Your actual payment will vary depending on your credit score, down payment, lender and location, among other factors.

“They’re saying the roof now needs to be completely replaced.”

The vaccine candidate pairs an mRNA therapy with the cancer drug Keytruda.

Intel CEO Lip-Bu Tan has made a major purchase of Intel stock as the chipmaker ramps up its AI ambitions.

Tan purchased 105,263 Intel (INTC) shares for $95 each on Aug. 11, spending roughly $10 million, according to a Form 4 he filed with the Securities and Exchange Commission. The purchase increased his beneficial ownership to about 1.33 million shares.

The insider buy comes at a pivotal time for Intel. The company just raised nearly $20 billion in fresh equity as it ramps up spending on manufacturing and tries to turn its foundry business into a credible alternative to Taiwan Semiconductor Manufacturing (TSM).

Intel shares have surged roughly 162% this year after investors grew more optimistic about the chipmaker’s turnaround and AI prospects, although the stock has pulled back roughly 26% from its June high.

Intel closed at $96.69 a share on August 18, up 162% year-to-date.Getty Images

Intel raises $20 billion as AI spending accelerates

Intel last week sold about 210.5 million shares at $95 each, increasing the offering from an initially planned $15 billion to $20 billion after strong investor demand.

The offering was priced at roughly a 2.6% discount to Intel’s previous closing price and reportedly attracted more than $100 billion in orders.

Intel expects net proceeds of roughly $19.7 billion and plans to use the money for general corporate purposes, including capital expenditures and working capital.

Related: Cathie Wood sells $11.6 million of surging tech stock

The new shares dilute existing shareholders, but they also give Intel more cash to fund an increasingly expensive turnaround without taking on another large chunk of debt.

Intel recently increased its 2026 capital expenditure forecast from $18 billion to more than $20 billion, with spending expected to rise further in 2027.

The company is also pushing ahead with its next-generation 14A manufacturing process, which is expected to reach high-volume production in 2028.

Intel earnings show AI demand accelerating

Intel’s latest results gave investors more reason to believe the turnaround is gaining traction.

On July 23, the company reported second-quarter adjusted earnings of 42 cents a share on revenue of $16.13 billion. Analysts had expected adjusted earnings of 21 cents a share and revenue of about $14.4 billion.

Revenue jumped 25% from a year earlier, Intel’s strongest year-over-year growth in more than 15 years.

The Data Center and AI business was particularly strong, with revenue surging 59% to $6.3 billion. Client Computing and Physical AI revenue increased 13% to $8.9 billion, while Intel Foundry revenue climbed 31% to about $5.8 billion.

“AI is driving unprecedented demand for compute,” Tan said following the results, “As we continue to execute, Intel is well-positioned to capture sustainable growth across our CPU franchise.”

Intel expects third-quarter revenue of $15.8 billion to $16.8 billion and adjusted earnings of 38 cents a share.

The foundry operation remains a major challenge, however. Intel Foundry posted an operating loss of about $2.1 billion in the second quarter, despite improving yields and factory utilization.

Veteran trader sees bullish setup for Intel stock

Stephen Guilfoyle, a veteran analyst with more than 30 years of trading experience, is watching Intel’s technical setup after the stock’s summer pullback.

Guilfoyle is the founder and President of Sarge986 LLC, a family-run trading operation.

Intel formed what Guilfoyle described as a bearish “rising wedge” through the spring, with the shares eventually peaking on June 30 before falling below both their 21-day exponential moving average and 50-day simple moving average, according to a research note on TheStreet Pro.

Related: 5-star analyst sets alarming SpaceX stock price target

But the chart has changed.

Guilfoyle now sees a potential inverse head-and-shoulders pattern, a formation that can signal a bullish reversal, with a pivot around $103.

“The inverse head-and-shoulders is just about complete,” Guilfoyle wrote, although he said Intel still needs to reclaim its 50-day moving average to bring professional traders more decisively back into the stock.

Momentum indicators are also improving.

Intel’s relative strength indicator has recovered toward neutral territory, while its moving average convergence divergence, or MACD, has turned more constructive. The 12-day exponential moving average has crossed back above the 26-day EMA, another technical signal Guilfoyle views as bullish.

His target price is $128, with $103 serving as the initial pivot.

Guilfoyle said he purchased small long position last week, and would consider adding to the position on weakness toward Intel’s 200-day moving average, while a break below that level would be his signal to exit.

Bank of America remains bullish on Intel stock

Bank of America analyst Vivek Arya estimates the $20 billion stock sale will result in roughly 4% to 5% earnings-per-share dilution because of the higher share count.

Still, Arya views the capital raise as a net positive, arguing that the size of the offering could be a sign of management’s increasing confidence in Intel’s foundry ambitions.

Arya maintained his Buy rating on Intel while lowering his price target to $145 from $160 to account for the dilution and lower valuation multiples across AI-compute stocks.

Intel closed at $96.69 a share on August 18.

Related: Billionaire Bill Ackman doubles down on these stocks in Q2

Adobe data released today shows a dramatic increase in the use of AI for travel planning, and that AI advice is driving bookings and sales.