News Summary

• Intel added $20 billion to its balance sheet during the third quarter, sending its stock soaring.
• The company also received $5.2 billion from closing the sale of its ownership stake of Altera.
• Despite the strong quarter, there weren’t many details on what will happen next with Intel’s foundry business, which makes custom chips for customers.
• Intel analysts told TechCrunch in August that the company did not need cash to turn itself around but rather a strategy to get its foundryBusiness on track.