US EditionTrump says Intel has agreed to give US 10% stake in chipmaker
The U.S. government plans to convert $10.9 billion in CHIPS Act grants into a 10% Intel equity stake to support domestic chip production amid national security concerns.
- On Friday, President Donald Trump said the United States will take a 10% stake in Intel after a meeting last week with Intel CEO Lip-Bu Tan, with an announcement expected later Friday.
- The push stems from efforts to convert CHIPS and Science Act grants into shares, with U.S. Commerce Secretary Howard Lutnick saying, `We should get an equity stake for our money`.
- On Friday, Intel shares rose about 6% after reports the administration was poised to take a stake, while the company restructures following nearly $19 billion in losses last year and $3.7 billion this year under CEO Lip-Bu Tan.
- U.S. officials stressed the government would not meddle in Intel Corporation's business and would hold non-voting shares, limiting influence despite becoming a major shareholder.
- Such a move would be rare in the U.S. and echo past bailouts like the 2008 General Motors bailout; President Donald Trump says the stake would bolster domestic chip production and counter China in AI-era supply chains.
106 Articles
106 Articles
Trump called out after big Intel move: 'Literally communism'
President Donald Trump has wielded his insult machine at Democrats he claims are "socialists" and "communists," but the state purchase of Intel has many, including conservatives, questioning whether he's the real "big government" guy. On Friday, computer chip manufacturer Intel agreed to allow the government to purchase 10% of its company, making the U.S. government the largest shareholder in the company, NPR reported. Libertarian Cato Institute…
He was already thought of, now the "great deal" is approved according to the US president. Trump's words are that the US government can join the battered chip manufacturer Intel - with a share of ten percent.
Koco News5
President Trump says Intel agreed to give US a stake in its company
Speaking with reporters on Friday, Trump said the deal came out of a meeting last week with Intel CEO Lip Bu Tan — which came days after the president called for Tan to resign over his past ties to China.
Intel agrees to give US a 10% stake in company, Trump says
By Michelle L. Price and Michael Liedtke | Associated Press WASHINGTON — President Donald Trump said that Intel has agreed to give the U.S. government a 10% stake in its business. Speaking with reporters on Friday, Trump said the deal came out of a meeting last week with Intel CEO Lip Bu Tan — which came days after the president called for Tan to resign over his past ties to China. “I said, I think it would be good having the United States as yo…
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