NEW YORK (AP) — Intel has posted a profit in its first quarterly report since the U.S. government became a major shareholder in the struggling chipmaker.
The one-time American tech icon reported a net income of $4.1 billion, or 90 cents per share, in the three months ending in September, up from a loss of $17 billion, or $3.88 per share, a year earlier. Revenue climbed 3% from last year to $13.7 billion.
Stock in the company rose nearly 8% in after-hours trading to $41.10, adding to strong gains since the United States invested in the summer.
Recently installed CEO Lip-Bu Tan has been slashing thousands of jobs and mothballing projects to shore up the company's finances and better compete with domestic and foreign rivals that have since overtaken it.
President Donald Trump announced in August that the U.S. government would take a 10% stake in the Intel as part of his effort to bolster companies deemed vital to national security. It was a startling move for a Republican leader, bucking the party's long-held belief that governments shouldn’t try to pick corporate winners and losers with taxpayer money.
Intel handed over the shares in exchange for nearly $9 billion that had already been granted to it under the CHIPS and Science Act of 2022. Intel had agreed to make major investments in U.S. manufacturing facilities in exchange for the funds.
Intel also received $5 billion from rival Nvidia in September. Earlier this year, it received $2 billion from Japanese technology giant SoftBank.
Founded in 1968 at the start of the personal computer revolution, Intel missed the shift to mobile computing triggered by Apple’s 2007 release of the iPhone. The company's troubles have been magnified since then by the advent of artificial intelligence — a booming field where Nvidia's chips have become tech’s hottest commodity.
FILE - The Intel logo is displayed on the exterior of Intel headquarters in Santa Clara, Calif., Jan. 12, 2011. (AP Photo/Paul Sakuma, File)
DENPASAR, Indonesia (AP) — Indonesia delayed on Wednesday the deportation of a Scottish crime boss arrested on the resort island of Bali in connection with large-scale drug trafficking and money laundering.
Steven Lyons, a senior figure in an international crime syndicate who had spent months on the run, would now be deported on Thursday, according to Husnan Handano, a spokesperson for Bali’s immigration office, without giving a reason for the delay.
Lyons, 45, was originally to be sent to Spain via Doha by Qatar Airways on Wednesday evening.
Lyons was detained on Saturday on arrival at Bali’s Ngurah Rai international airport from Singapore, after the immigration system flagged him based on an Interpol Red Notice issued at Spain’s request. A Red Notice is an alert issued by Interpol at the request of a member country for police worldwide to arrest a suspect for extradition.
The alleged leader of the Lyons crime family, he was based in Scotland and was wanted in Spain and Britain. He has been on Spain’s wanted list for about two years, following a murder there in 2024.
Bali Police Chief Daniel Adityajaya said his arrest was part of a joint investigation involving Spanish and Scottish police.
Lyons is alleged to have led a transnational criminal network operating out of Scotland that controlled narcotics trafficking routes from Spain to the United Kingdom. His organized crime ring is suspected of using shell companies for money laundering in Europe and the Middle East — including in Spain, Scotland, England, Dubai, Qatar, Bahrain and Turkey.
Prior to his arrest in Bali, police in Scotland and Spain had carried out raids in connection with the case that led to several arrests. Suspects were also detained in Turkey, the Netherlands and the United Arab Emirates.
Scottish media have reported that Lyons survived a 2006 shooting in Glasgow that killed his cousin and later moved to Spain before settling in Dubai, in the UAE. Last May, his brother and an associate were shot and killed in a suspected gangland shooting at a beachfront bar in Fuengirola, southern Spain.
Karmini reported from Jakarta, Indonesia.
A Scottish man identified as Steven Lyons, who is described as a senior figure in an international crime syndicate, center, is escorted by police officers at the regional police headquarters in Denpasar, Bali, Indonesia, Tuesday, March 31, 2026. (AP Photo)
A Scottish man identified as Steven Lyons, who is described as a senior figure in an international crime syndicate, center, is escorted by police officers at the regional police headquarters in Denpasar, Bali, Indonesia, Tuesday, March 31, 2026. (AP Photo)
