Intel Stock Surges as Chipmaker Returns to Profitability

Intel shares rallied in extended trading after the chipmaker reported a surprise third-quarter profit, marking a significant turnaround for the embattled semiconductor giant. The company posted adjusted earnings of 23 cents per share, dramatically outperforming analysts' expectations of just 2 cents. Revenue climbed 3% year-over-year to $13.7 billion, further exceeding projections.

The results come at a pivotal moment for Intel, which has undergone sweeping restructuring under new CEO Lip-Bu Tan. Recent months have seen strategic moves including substantial U.S. government investment and high-profile partnerships with industry leaders like Nvidia. "We're seeing steady progress in our turnaround," Tan noted, highlighting growing AI demand as a key driver across Intel's product portfolio.

CFO David Zinsner pointed to strengthened financial positioning, with chip demand projected to outstrip supply through 2026. The earnings beat suggests Intel may be regaining its footing in the competitive semiconductor landscape after years of struggles.