Intel’s shares jumped nearly 10% in Frankfurt on Friday, following a better-than-expected third-quarter profit driven by significant cost-cutting measures.

The results marked Intel’s first earnings announcement after multibillion-dollar investments from Nvidia and Japan’s SoftBank, as well as an unprecedented U.S. government stake, fueling investor expectations of a major cash boost.

Shares had risen about 7% in after-hours trading in the U.S. on Thursday, before climbing 9.7% in Frankfurt on Friday.