US EditionTrump says Intel has agreed to give US 10% stake in chipmaker
The U.S. government will acquire a 10% passive equity stake in Intel through $8.9 billion in CHIPS Act grants, aiming to boost domestic chip manufacturing and national security.
- On Friday, President Donald Trump revealed that the U.S. government acquired a 10% ownership share in Intel by obtaining 433.3 million non-voting shares valued at $20.47 each.
- The stake resulted from converting $11.1 billion in previously allocated government funds and pledges under programs started by the Biden administration to boost domestic chip manufacturing.
- Intel is a struggling Silicon Valley company led by CEO Lip-Bu Tan, who faced criticism and calls for resignation earlier in August amid concerns over past Chinese investments.
- Commerce Secretary Howard Lutnick emphasized that the United States should reap the rewards from the agreement, while Tan commended Trump's efforts in fostering significant investments within a key sector.
- The government's stake, acquired without new spending and without board seats or voting rights, signals hope for Intel’s comeback but raises concerns about government influence and industry impacts.
145 Articles
145 Articles
Ticker: Trump turns $11.1B in US government funds into a 10% stake in downtrodden Intel
President Donald Trump on Friday announced the U.S. government has secured a 10% stake in struggling Silicon Valley pioneer Intel in a deal completed just a couple weeks after he depicted the company’s CEO as unfit for the job.
The US holds ten percent of the shares in the beaten-up Intel chip group.
The US government is the new major shareholder of the crisis-ridden Intel chip group. The US state now holds a 10 percent stake, said Trade Minister Howard Lutnick. As a purchase price, the remaining $8.9 billion (around € 7.6 billion) will be paid to subsidies for the expansion of US production, as stated in an Intel announcement. Intel had already received a good two billion dollars. According to former Lutnick figures, President Donald Trump …
Trump's Intel deal has already given the government a $1.9 billion gain on paper
President Donald Trump on Friday announced the U.S. government has secured a 10% stake in struggling Silicon Valley pioneer Intel in a deal that was completed just a couple weeks after he was depicting the company’s CEO as a conflicted leader unfit for the job. “The United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future,” Trump wrote in a post. The U.S. government is ge…
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