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Trump 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.
55 Articles
55 Articles
The US now owns 10 percent of Intel's computer chip manufacturer.
US to take 10% equity stake in Intel, in Trump's latest corporate move
WASHINGTON — President Donald Trump said on Friday the U.S. would take a 10 percent stake in Intel under a deal with the struggling chipmaker that converts government grants into an equity share, the latest extraordinary intervention by the White House in corporate America. The deal puts Trump on better terms with Intel CEO Lip-Bu Tan, after the president recently said the CEO should step down due to conflicts of interest. It will ensure that th…
US government takes 10% stake in Intel in unusual bid to revive chipmaking
President Trump and Intel announced an agreement on Friday that will give the US government a 10 percent stake in the company. The passive ownership will not include boardroom representation, but similar deals between the state and other tech companies could be on the horizon.Read Entire Article
Trump turns $11.1 billion in US government funds into a 10 percent
WASHINGTON: President Donald Trump on Friday announced the US government has secured a 10 percent 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 percent of INTEL, a Great American
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