President Donald Trump announced that Intel agreed to give the U.S. government a 10% stake, roughly $10 billion. The stake corresponds to grant funding previously allocated under the CHIPS and Science Act, under which Intel had been allotted about $11 billion. The reported arrangement would exchange CHIPS Act grant money for government equity while reportedly avoiding government involvement in company governance or a board seat. Intel shares rose about 5.5% after the announcement. Intel declined to comment and the White House did not immediately respond. Commerce Secretary Howard Lutnick had advocated receiving equity in return for CHIPS funding.
They've had some bad management over the years and they got lost. I said 'I think you should pay us 10% of your company,' and they said 'yes.' That's about $10 billion. I don't get it, this comes to the United States of America,
We should get an equity stake for our money, so we'll deliver the money which was already committed under the Biden administration,
Collection
[
|
...
]