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Trump says Intel has agreed to give US 10% stake in chipmaker

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.

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