The United States agreed to purchase a 10 percent stake in Intel valued at $10 billion after negotiations with Intel CEO Lip-Bu Tan. The president had earlier criticized Tan for allegedly having "concerning" ties to the Chinese Communist Party and said Tan entered the meeting seeking to keep his job before offering the investment. Commerce Secretary Howard Lutnick reportedly advocated buying stakes in chipmakers tied to CHIPS Act funding. Senator Bernie Sanders supported seeking taxpayer returns on grants. The administration plans to seek equity only from firms that will not increase U.S. investment and is not targeting companies like TSMC that are expanding U.S. operations.
"walked in wanting to keep his job and he ended up giving us $10 billion for the United States."
"I said, 'I think it would be good having the United States as your partner.' He agreed, and they've agreed to do it,"
"if microchip companies make a profit from the generous grants they receive from the federal government, the taxpayers of America have a right to a reasonable return on that investment."
"the administration isn't looking to own equity in companies like TSMC that are increasing their investments"
Collection
[
|
...
]