Raspberry Pi, the Cambridge-based maker of credit card-sized computers, saw its shares jump as much as 25% in early trading on Friday after the company raised its profit expectations, citing surging demand for its devices in the AI sector.
The firm said it now expects to deliver adjusted earnings of at least $38m (£28.2m) for the first half of 2026, a figure that sent its market value to around £2bn. The company added that it is on track for earnings to be "significantly ahead of current market expectations" for the full year.
“Raspberry Pi expects $38m H1 profit as AI demand drives share surge.”
The optimism reflects a surge in sales: Raspberry Pi said it expects to sell more than four million units in the half-year, with the value of its stock more than tripling since the start of the year. The group attributed the strong performance to "robust demand for its products".
While the machines have long been popular with hobbyist programmers, they are increasingly being used to create AI-powered devices, offering a cheaper alternative to more specialised hardware. Enthusiasts have begun using the low-cost computers to host AI assistants such as OpenClaw.
The company has also raised prices several times for many of its products over the past few months, a move driven by a global shortage of memory chips that has pushed up component costs – a shortage itself fuelled in part by demand from AI data centres.
Raspberry Pi's devices are the most widely sold computers by a UK firm, and the latest earnings upgrade underscores how even the smallest players are being swept up in the AI boom. Whether the company can sustain its rapid growth as global chip shortages persist remains to be seen, but for now investors are betting big.