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Elizabeth Warren Decries Trump’s Intel Deal As An ‘Extremely Risky Investment’
The U.S. government's $8.9 billion investment secures a 10% stake in Intel, reflecting efforts to protect national interests amid political debate.
- Last month, President Donald Trump announced the U.S. government converted a CHIPS grant into an $8.9 billion purchase of 433.3 million Intel Corporation shares, securing a 10% stake.
- The CHIPS Act previously awarded Intel Corporation $7.86 billion, and Intel had committed $20 billion to two Arizona plants under provisions guarding foundry business ownership threshold at 50%.
- Senator Rand Paul warned on CNBC's `Squawk Box` that government ownership is "a bad idea" and called the Intel stake "a step towards socialism," while Senators Bernie Sanders and Elizabeth Warren offered contrasting views.
- Intel's Securities and Exchange Commission filing shows the CHIPS grant's equity conversion may discharge obligations, with the U.S. government as largest shareholder lacking control, prompting Senator Elizabeth Warren's letter to Commerce Secretary demanding protections for taxpayers and workers.
- The administration says its goal is to bolster U.S. AI and chip leadership through reshoring, but direct U.S. investment risks prompting China to accelerate mandates against Intel Corporation, while future equity deals by the U.S. government offer opportunities to assess this approach.
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When the State Becomes Shareholder: A Catholic Case Against America’s Drift Toward Socialism
A 10% stake in Intel is only the beginning. What we should fear is the end. In 1931, Pope Pius XI warned of a “grave evil” in his encyclical Quadragesimo Anno: the temptation of centralized power to absorb the functions of families, associations, and businesses. He called it a violation of the natural order—a usurpation of […]
Coverage Details
Total News Sources10
Leaning Left2Leaning Right2Center3Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 29%
C 43%
R 29%
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