US EditionUS Converts CHIPS Funds Into Nearly 10% Intel Stake After White House Deal
- 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.
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219 Articles
219 Articles
The US government's entry into Intel is an alarming case of distortion of competition. Trump raises a claim to authority that hardly stops in front of an institution – not even in front of companies.
·Frankfurt, Germany
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The Washington government is investing $8.9 billion in the impacted semiconductor company, financed by the conversion of chip subsidies.
·Munich, Germany
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After many noises and some confusion such as Intel's CEO, there are now excellent news for the company. This can breathe freely, with an intervention by the U.S. government....
·Portugal
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Coverage Details
Total News Sources219
Leaning Left35Leaning Right33Center38Last UpdatedBias Distribution36% Center
Bias Distribution
- 36% of the sources are Center
36% Center
L 33%
C 36%
R 31%
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