"The actions we took to strengthen the balance sheet give us greater operational flexibility and position us well to continue to execute our strategy with confidence. In particular, I'm honored by the trust and confidence President Trump and Secretary [Howard] Lutnick have placed in me. Their support highlights Intel's strategic role as the only U.S.-based semiconductor company with leading edge logic, [research and development] and manufacturing."
"In August, SoftBank invested $2 billion. A few days later, the U.S. Government took an unprecedented 10% equity stake in Intel. The company has received $5.7 billion of the planned $8.9 billion from the U.S. Government thus far. Nvidia also bought a $5 billion stake in Intel in September as part of a broader deal to develop chips together over time."
"Intel added $20 billion to its balance sheet during the third quarter, the company announced on its third-quarter earnings presentation on Thursday, sending its stock soaring. This growth was largely due to three sizable investments in the company over the last three months. The company also received $5.2 billion from closing the sale of its ownership stake of Altera, a hardware company it had owned since 2015, on September 12. It also sold its stake in Mobileye, an autonomous driving tech company."
Intel returned to profitability in the third quarter with $4.1 billion in net income and improved revenue after a run of quarterly losses. The company added $20 billion to its balance sheet driven largely by three sizable investments and asset sales. SoftBank invested $2 billion, the U.S. Government took a 10% equity stake (with $5.7 billion received so far of a planned $8.9 billion), and Nvidia purchased a $5 billion stake. Intel realized $5.2 billion from the Altera sale and sold its Mobileye stake. Recovery efforts included cost cutting, layoffs, and strategic shifts in investment and manufacturing focus.
Read at TechCrunch
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