The Trump administration’s investment in Intel appears to be paying off, but the once-mighty chipmaker has a long way to climb back to industry dominance.
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 President Trump’s surprise investment—Intel reported that it earned $13.7 billion in revenue over the past three months, a 3 percent increase year-over-year. It’s the fourth consecutive quarter that Intel has beat revenue guidance.
Intel’s stock price is up more than 90 percent
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