Investments from SoftBank, Nvidia and the U.S. government represent a lifeline for Intel under CEO Lip-Bu Tan, which has been struggling to maintain its dominance in the PC and server CPU markets.

Intel INTC-Q beat expectations for third-quarter profit as CEO Lip-Bu Tan’s drastic cost-cutting measures helped the chip maker shore up its finances amid a slew of high-profile investments in the company.

Shares jumped more than 8 per cent in after-hours trading.

This marks the Santa Clara, Calif.-based company’s first earnings announcement after multibillion-dollar investments from Nvidia and Japan’s SoftBank as well as an unprecedented U.S. government stake, with investors anticipating a major cash boost.

Nvidia takes $5-billion stake in Intel, announces chip partnership

Intel received

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