US EditionIntel sales beat in first earnings with U.S. government as top shareholder
- Intel Corporation reported third-quarter results on Thursday, with sales beating estimates and the first report since the U.S. government's investment made it a 10% shareholder.
- Intel faced regulatory questions after adding a 37 cent loss per share to account for the government's $8.9 billion investment, seeking SEC approval delayed by the U.S. government shutdown.
- Financial details show Intel reported net income of $4.1 billion, with Client Computing Group sales at $8.5 billion and the products group up 3% to $12.7 billion.
- The Nvidia deal will integrate Intel CPUs with Nvidia GPUs, aiming to revive its data center CPU business that requires $100 billion in capital after Nvidia's $5 billion investment.
- Intel started production of its most advanced chips in Arizona during the quarter while investors focus on Intel Foundry, which reported $4.2 billion in sales, down 2% year on year, and the company expects demand to outpace supply through next year.
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Intel reported revenue of $13.7 billion, above expectations, but issued a slightly weaker-than-expected forecast for the fourth quarter. • The third-quarter results still do not reflect the many deals the company has signed in recent months, with SoftBank, Nvidia and the US government.
With U.S. Industry Losing the Tech Race, Trump Wants the State to Step In - Revolutionary Communists of America
From EVs to hypersonic missiles, the US is losing the high-tech arms race. In an effort to compete with Chinese state capitalism, Trump is intervening in the economy with an even heavier hand than his predecessors. Last month, the US government acquired a nearly 10% stake in Intel. In exchange, the government granted Intel immediate access to $8.9 billion promised by Biden’s CHIPS Act. Trump, like Biden before him, is attempting to prop up the n…
Intel has been struggling with problems for years, but the new boss's austerity has had an impact, and billions of US government and Nvidia's rival have made a financial cushion.Intel made it into the profit zone in the past quarter thanks to lower red figures in manufacturing, among other things.The chip group posted a surplus of 4.1 billion dollars after a loss of 16.6 billion dollars a year earlier.Sales increased by three percent to 13.7 bil…
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