Reported 1 day ago
Intel's stock surged by 7% after reporting third quarter earnings that exceeded analyst expectations, with revenue of $13.7 billion and adjusted earnings per share of $0.23. The CEO highlighted that AI is driving demand for their chips, contributing to a more favorable outlook despite a struggling manufacturing segment. Although the company anticipates lower fourth quarter earnings, significant investments from the US government and Nvidia indicate confidence in Intel's potential for recovery under new leadership.
Source: YAHOO