Intel details everything that could go wrong with US taking a 10% stake
14 days ago
- #Trump
- #Intel
- #CHIPS Act
- Intel agreed to sell a 10% stake to the US after pressure from Donald Trump.
- Some investors are unhappy, fearing it sets a bad precedent for government interference in private companies.
- Investor James McRitchie criticized the deal, saying it sends a pro-Trump message.
- Kristin Hull expressed concerns about blurred lines between government and private sector roles.
- Intel converted $11.1B in CHIPS funding into a 9.9% equity stake for the US.
- Supporters like Microsoft and Bernie Sanders praised the deal for allowing the US to profit from CHIPS grants.
- Commerce Secretary Howard Lutnick criticized Biden for giving away CHIPS funding 'for free' and praised Trump for securing equity.