Trump administration vying to own a big stake in Intel
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Money might not be the solution to Intel Corp.’s problems.
The U.S. government wants an equity stake in Intel in exchange for cash grants approved during the administration of former President Joe Biden, Commerce Secretary Howard Lutnick said on Tuesday. Separately,
SoftBank is investing $2 billion in Intel, even as the White House is considering taking a 10% stake in chipmaker per reports, as talks with the company and Trump's team advance.
Money earmarked for semiconductor company under Chips Act could be converted into equity
Treasury Secretary Scott Bessent said the White House wouldn't try to flex its power with a stake in Intel.
Intel shares are trading marginally lower Monday. The stock is digesting significant gains fueled by reports that the Trump administration is exploring a direct financial stake.
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.