Intel has reported a record Q4 revenue of US$20.2 billion, up eight percent from a year ago. The chip giant also posted fourth-quarter profits of $6.9 billion, up nine percent. Its revenue forecast for first quarter is $19 billion, slightly higher than a year ago.

The results come as Intel beats a path toward increasing wafer supply and transitioning into the first iteration of its 10nm process technology.

Intel’s Client Computing Group reported $10 billion in revenue, up two percent from a year ago. Its Data Centre Group was the standout, as revenue grew 19 percent to $7.2 billion.

“We exceeded our expectations for Q4 2019, capping off a fourth consecutive record year,” Bob Swan, Intel’s CEO, told analysts.

Intel’s holiday earnings benefited from PC purchases tied to user migration from Windows 7 to Windows 10, as well as the strong performance by its Xeon-centric datacentre group.

As 2020 progresses, however, Intel said it will face more competition from AMD, even as Intel gets its manufacturing back on track.

The company continues to experience shortages in PC processors, though Intel said it’s adding capacity.