AI Sales Push Fortinet Shares to New Heights

Fortinet (FTNT) reported Q2 results, citing 33% YoY billings growth to $2.37B and 26% revenue growth to $2.05B, beating the high end of guidance. Product revenue rose 52% to $773M. Free cash flow more than tripled to $966M. Non-GAAP EPS rose 41% to $0.90. Q3 guidance: billings $2.25–$2.35B, revenue $2.01–$2.10B.

Intel said its foundry business will manufacture Fortinet’s next-generation Security Processor 6. The deal is intended to help Fortinet reduce reliance on TSMC, which holds about 72% foundry share, and could expand Intel’s cybersecurity chip presence. Intel reported Q2 2026 revenue of $16.1B, with foundry revenue $5.8B, up 31% year over year.

Intel and Fortinet announced a deal for Fortinet’s Security Processor 6 (SP6) custom chip, to be built using Intel’s design, packaging and manufacturing. Reporting cited SP6 on Intel 4 at Fab 34 in Leixlip, Ireland. Intel shares rose over 8% after the July 21 news. Intel reported Q2 revenue of $16.1B and external foundry revenue of $293M.

Intel Foundry said it secured Fortinet as its first named corporate client under CEO Lip-Bu Tan, announced July 21. The companies will produce a next-generation security chip using Intel’s foundry services, including Intel’s 18A node in production and 14A planned later this decade. Microsoft previously disclosed a custom chip using Intel 18A.

Fortinet (FTNT) reported Q2 2026 results, saying billings rose 33% to $2.37 billion and total revenue increased 26% to $2.05 billion. Product revenue grew 52% to $773 million, and free cash flow more than tripled to nearly $1 billion. The company raised 2026 guidance, citing 34% SASE Firewall billings growth to over $2 billion and 25% AI-driven security ops billing growth.

Fortinet Inc. (FTNT) shares hit an all-time high of $170.37 and last traded around $171.18. The stock is up 113% over six months and 76.63% over a year. The article cites revenue up 26% to $2.05B and billings up 33% to $2.37B, plus product revenue up 52% to $773M, with multiple firms raising price targets.