Lutnick just laughed it off, indignantly pointing out that “we were just giving away the money” under the previous terms of the CHIPS Act. But the legality of any equity stake would likely be challenged by both Intel shareholders and competitors in the industry, according to the Times.

In its latest push into A.I. and semiconductors, SoftBank yesterday (Aug. 18) announced a $2 billion investment in Intel. The Masayoshi Son -led conglomerate purchased shares at a slight discount—$23 each—giving it about a 2 percent stake in the struggling U.S. chipmaker.

We should get an equity stake for our money,” Howard Lutnick tells CNBC about move, which could make US government largest shareholder in Intel - Anadolu Ajansı