US EditionBessent defends stake in Intel: Chips ‘strategic necessity’
- Treasury Secretary Scott Bessent confirmed that President Donald Trump's administration may seek to acquire stakes in other industries following a significant deal with Intel worth $11 billion.
- Bessent argued that U.S. involvement in sectors like shipbuilding could enhance economic and national security, amidst criticism from some lawmakers.
- Some investors and analysts expressed concern about government influence on corporations after the Intel deal, warning against 'national champion' policies.
- President Donald Trump endorsed the Intel deal and expressed interest in making additional investments to strengthen U.S. self-sufficiency in vital industries.
10 Articles
10 Articles
Scott Bessent defended the acquisition of 10% of Intel, marking the “strategic need” behind the decision. The Treasury Secretary spoke in Fox Business with Maria Bartiromo about the agreement reached between the Trump Administration and the microchip company. The agreement for participation was made in exchange for money previously allocated under the CHIPS and Science Act, promulgated by Joe Biden in 2022, to which more money was added. Read mo…
Bessent Rules Out U.S. Stake In Nvidia
Treasury Secretary Scott Bessent said Wednesday that the U.S. has no plans to buy a stake in Nvidia, despite the Trump administration’s growing willingness to step into private industry. Bessent said Nvidia “doesn’t need financial support” but left open the possibility of investments in “critical” sectors like shipbuilding. Nvidia is worth $4.4 trillion - that's 8% of the S&P 500, the largest share one company has ever had. That means markets ar…
Bessent says Trump exploring stakes in 'other industries' after Intel deal, rules out Nvidia
Treasury Secretary Scott Bessent confirmed that President Donald Trump's administration may be interested in acquiring a stake in other industries after making a deal with Intel last week.Bessent made the statement during a Wednesday appearance on "Mornings with Maria" with host Maria Bartiromo. She pressed Bessent about the $11 billion deal with Intel and whether similar deals are coming down the pipeline."President Trump is going to be the onl…
The acquisition of 10 percent of Intel by the US government raises questions about the future of the American economy.
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