Intel reported third-quarter results on Thursday in which sales beat analyst estimates, signaling that demand for its core x86 processors for PCs has recovered. Intel shares are up over 87% so far this year.
Intel forecast fourth-quarter revenue just shy of estimates on Thursday, but beat expectations for September-quarter profit as CEO Lip-Bu Tan's drastic cost-cutting measures helped the chipmaker shore up its finances amid a slew of high-profile investments in the company.
Intel could face heightened expectations from investors when it reports third-quarter earnings after the bell, following a torrid rally in recent months on a flurry of high-profile deals.
The companies are reportedly vying for federal funding awards intended for “promising technology companies.” According to the Journal, the companies that agree to the deal could receive funding awards from the federal government worth at least $10 million each.
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