"In August, the US government announced it was converting about $9 billion in federal grants that Intel had been issued during the Biden administration into a roughly 10 percent equity stake in the company. During its third-quarter earnings on Thursday-its first financial update since Trump's surprise investment-Intel reported that it earned $13.7 billion in revenue over the past three months, a three percent increase year-over-year. It's the fourth consecutive quarter that Intel has beat revenue guidance."
"The president changed his stance only days later, however, after having what he described as a positive meeting with Tan. On the earnings call, Tan said he was "honored by the trust and confidence" that President Donald Trump and Commerce Secretary Howard Lutnick had placed in him. He added that Intel was "fully committed to the Trump administration's vision, and proudly welcomes the US as an essential partner in our efforts.""
The US converted about $9 billion in federal grants into roughly a 10 percent equity stake in Intel. Intel reported $13.7 billion in third-quarter revenue, a 3 percent year-over-year increase, marking a fourth consecutive quarter exceeding revenue guidance. Intel's stock rose more than 90 percent since the summer deal, climbing from around $20 to $38.16 after the earnings report. President Trump initially called for CEO Lip-Bu Tan to resign over alleged China ties, then reversed course after a meeting and backed the company. Tan said he was honored by the trust placed in him and said Intel is fully committed to the Trump administration's vision and welcomes the US as a partner. Demand for x86 chips is rising as AI infrastructure investments grow, and data centers use a mix of GPUs and x86 CPUs for different AI workloads. Intel noted challenges in supplying some device customers.
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