Intel shares jumped more than 8% to US$35.14 in after-market trades after a reported revenue of US$14.2 billion.
Net income tallied US$300 million, compared with US$1 billion profit in the same period in 2022, earnings figures showed. California-based Intel is seen as a key tool for the United States to reduce its dependence on major global producers, such as Taiwan’s TSMC. Intel has been operating in Israel since the 1970s with development centers and a production site that employ some 12,000 people, the finance ministry said.