Intel Stock Soars After Q3 Surprise – AI Boom and $15B in Deals Fuel 90% Rally (Analysts Weigh In)
Intel’s blockbuster Q3 report (released Oct 23) delivered a welcome jolt. The company posted $13.7 billion in revenue and $0.23 in non-GAAP EPS, versus roughly breakeven expectations ts2.tech ts2.tech. This beat marks a sharp turnaround: Intel swung to a $4.1B GAAP profit after a year-ago loss of $16.6B. Management emphasized AI as the catalyst. As CEO Lip-Bu Tan put it, Intel is making “steady progress” and “AI is accelerating demand” for its chips ts2.tech. CFO Dave Zinsner added that Intel’s balance sheet is now fortified by fresh funding from Washington, NVIDIA and SoftBank, and that demand “outpaces supply” for its processors