The US government is taking a 10 percent stake in Intel2025-08-22 17:42 by DanielaTags: Intel
President Trump said on Friday he had asked Intel CEO Lip-Bu Tan for a 10% stake in the company during a recent meeting at the White House. "He agreed, and they've agreed to do it, and I think it's a great deal for them," Trump told reporters. "He walked in wanting to keep his job, and he ended up giving us $10 billion for the United States," Trump said. In a statement released on the company's website late Friday afternoon, Intel confirmed that the government would make $8.9 billion investment in Intel common stock "reflecting the confidence the Administration has in Intel to advance key national priorities and the critically important role the company plays in expanding the domestic semiconductor industry." Part of the government's stake, worth $5.7 billion, would be funded by grants awarded, but not yet paid, to the company under the CHIPS and Science Act, the 2022 law that authorized a total of nearly $53 billion in government funding for chip-related activities. Intel said it already received $2.2 billion in CHIPS grants, making a total investment of $11.1 billion. Another $3.2 billion will be awarded to the company as part of the Defense Department's Secure Enclave program, which funds semiconductor manufacturing in the U.S. Read more -here-
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