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Intel earnings have message for AMD and Nvidia: ‘Bring it on’

Intel put the hip back in its chips Thursday.

For all the talk about Intel Corp. facing an onslaught of new competition, the chip giant just answered back with record financial results that carried a message: “Bring it on.”

Intel INTC, +0.63% Chief Executive Brian Krzanich delivered that message himself Thursday when asked about the suddenly hot chip sector during the company’s second-quarter conference call.

“We continue to see intense competition across our business,” he said. “But competition makes us stronger and we are ready for it.”

The world’s largest chip maker showed its strength by reporting better-than-expected results and raising its forecast for the full year, saying it is faring better than the declining PC market and seeing increased strength in its data center business among its cloud computing customers. Intel’s new forecast tacked on $1.1 billion in additional revenue for the year, before accounting for its acquisition of Mobileye NV MBLY, +0.00% , which is now expected to close in the third quarter. Mobileye, which develops a vision-based advanced driver assisted system, will add another $200 million, Intel said.

Investors, who were not expecting a big beat amid a sluggish PC market...