Intel shares ( INTC-Q ) surged nearly 9 per cent in premarket trading on Friday as investors rallied behind CEO Lip-Bu Tan’s aggressive cost-cutting measures that helped the chipmaker surpass quarterly profit estimates and regain stability amid a flurry of high-stakes bets on future growth.

The results mark a turning point for Intel, which has struggled to maintain relevance in the face of fierce competition and manufacturing setbacks.

After a bruising 2024 that saw its first annual loss in nearly four decades, the company is now leaning on strategic investments and operational discipline to rebuild investor confidence.

Intel also drew support during the quarter from multi-billion-dollar investments by Nvidia and Japan’s SoftBank as well as a U.S. government stake, moves that offered

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