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Intel will give the U.S. government a 10% stake, Trump says
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TPR: The Public's Radio
(David Paul Morris | Bloomberg via Getty Images)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.
Trump administration wants government to have an equity stake in chipmaker Intel The Trump administration is pursuing an unusual deal that would make the U.S. government a major stakeholder in chipmaker Intel.
Earlier this week, Commerce Secretary Howard Lutnick told CNBC that a potential deal for an Intel stake would convert grants to Intel from the 2022 CHIPS and Science Act into equity.
We’ll get equity in return for it,” Lutnick said, adding the stake would not give the government voting or governance rights in Intel.