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.
19 Articles
19 Articles
Intel shareholders uneasy after Washington converts CHIPS funding into ownership
Last Friday, the White House announced that Intel will receive $11.1 billion in CHIPS Act funding in exchange for giving the Commerce Department a 9.9 percent equity stake. Reuters cites a securities filing that says the department won't get board seats, though it must support Intel's board nominees and proposals...Read Entire Article
Rep. Chip Roy on congressional stock trading ban, U.S. government's stake in Intel
Rep. Chip Roy (R-Texas) joins 'Squawk Box' to discuss the bipartisan bill to ban congressional stock trading, whether the bill should extend to the executive branch, U.S. government's stake in Intel, and more.
US President Trump has negotiated a ten percent stake in the chip group, which could have a significant impact on the market, including in Europe.
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…
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