The Trump administration is exploring the possibility of acquiring a 10% stake in Intel Corp. through a conversion of grants from the US Chips and Science Act into equity. Intel is set to receive approximately $10.9 billion in grants, which aligns with the potential value of the stake. Discussions are ongoing, with no official confirmation from the White House or Commerce Department. Intel is currently facing challenges with stagnant sales and losses, prompting new leadership to focus on cost-cutting measures to revitalize the company's business prospects.
The Trump administration is discussing a potential 10% stake acquisition in Intel Corp. as part of utilizing grants from the US Chips and Science Act.
Intel has been allocated $10.9 billion in Chips Act grants, which could be converted into equity to make the US the largest shareholder of the company.
The potential investment is contingent on various factors, including the ongoing challenges Intel faces with stagnant sales and losses, along with its strategic turnaround efforts.
While discussions are ongoing, the Commerce Department and White House officials emphasize that no official deal has been finalized regarding the investment in Intel.
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