Intel, White House
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Commerce Secretary Howard Lutnick on Tuesday confirmed that the government wants Intel to cough up a 10% equity stake in exchange for nearly $8 billion in CHIPS Act funding approved by the Biden administration. Lutnick said the the stake would be a return on its “investment” in the struggling chipmaker.
The Trump administration wants a return on money the struggling semiconductor maker gets under the Biden-era CHIPS Act.
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Light Wave Reports on MSNU.S. Government Could Reportedly Become Intel’s Top Shareholder Under New Proposal
The Trump administration is weighing whether to take a 10% ownership stake in Intel, according to a Bloomberg report, a move that could make the U.S. government the chipmaker’s largest shareholder. Officials are discussing converting part or all of Intel’s $10.
The White House is reviewing taking a 10% stake in chipmaker Intel, White House Press Secretary Karoline Leavitt explains the end goal of what would be the first of its kind move.