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, a hardware company it had owned since 2015.
• 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.
• The business has floundered from the start and has been a focus of CEO Lip-Bu Tan.