Intel’s earnings were very impressive, but the chief driver was a structural shift in demand for CPUs for AI. Plus, what is going on with Terafab? Subscribe to Stratechery Plus for full access. $15 / month or $150 / year With Stratechery Plus you get access to the subscriber-only Stratechery Update and Stratechery Interviews , and the Sharp Tech, Sharp China, Dithering, Greatest of All Talk, and Asianometry podcasts. Stratechery Update Substantial analysis of the news of the day delivered via three weekly emails or podcasts. Stratechery Interviews Interviews with leading public CEOs, private company founders, and discussions with fellow analysts. Dithering A twice-weekly podcast from John Gruber and myself: 15 minutes an episode, not a minute less, not a minute more. Sharp Tech Andrew Sharp and myself discuss how technology works and the ways it impacts our lives. Sharp China A weekly podcast from Andrew Sharp and Sinocism’s Bill Bishop about understanding China and how China impacts the world.…