Intel, White House and US government
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Nvidia And Intel Lead Tech Stock Drop As White House Reportedly Seeks Equity For CHIPS Grants
Commerce Secretary Howard Lutnick told CNBC the U.S. government wants a stake in Intel in exchange for CHIPS Act grant money promised under Biden.
The United States government is making an $8.9 billion investment in Intel, representing a 9.9 percent stake in the company, according to a press release the company published on Friday.
Fox Business’s Larry Kudlow expressed concern on Friday over the Trump administration’s move to take a 10 percent stake in mega chipmaker Intel. “I am very, very uncomfortable with that idea. I’m very uncomfortable with that one,
Treasury Secretary Scott Bessent said the White House wouldn't try to flex its power with a stake in Intel.
A $2 billion investment represents a roughly 2% stake, ranking SoftBank the fifth-largest shareholder of Intel, while a reported 10% stake by the U.S. would be worth about $10.4 billion as of Monday’s share price.