Intel's software revenue is growing rapidly and is expected to reach $1 billion by 2027

Intel Chief Technology Officer Greg Lavender said the company's push into software has yielded significant results, with software revenue expected to reach $1 billion by the end of 2027. Intel's software revenue exceeded $100 million in 2021. Chief Executive Officer Pat Gelsinger brought Lavender in from cloud computing company VMware in 2021 to guide the chipmaker's software strategy. Since then, Intel has acquired three software companies.