The US will take a 10 percent stake in Intel, valued at around $10 billion. President Donald Trump said Intel CEO Lip Bu-Tan agreed to give the government the stake after negotiations. Trump previously called on Bu-Tan to resign over ties to China and framed the investment as a way for the executive to keep his job. SoftBank plans a separate $2 billion investment to expand chipmaking in the US. Reports indicate the administration sought a 15 percent cut of China-bound chip sales from Nvidia and AMD. Treasury Secretary Scott Bessent described the investment as a conversion of grants to stabilize US chip production. Trump indicated he intends to pursue more deals like this.
President Donald Trump has confirmed that the US will take a 10 percent stake in Intel. During a press conference on Friday, Trump said Intel CEO Lip Bu-Tan agreed to give the government the stake, which is valued at around $10 billion. Earlier this month, Trump called on Bu-Tan to resign over his ties to China, and today he positioned the deal as a way for the executive to "keep his job."
Trump told reporters that he floated the offer during negotiations with Bu-Tan. "I said, 'I think it would be good having the United States as your partner,'" Trump said. "They've agreed to do it, and I think it's a great deal for them." The confirmation of the deal comes just days after SoftBank announced plans to invest $2 billion into Intel to "further expand" chipmaking in the US. Trump is expected to formally announce the agreement with Intel later today.
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