Intel to give US government 10% stake

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Intel to give US government 10% stake

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US Secretary of Commerce Howard Lutnick said on Friday that the federal government will take a 10% stake in US chipmaker Intel.
"This historic agreement strengthens US leadership in semiconductors, which will both grow our economy and help secure America's technological edge," Lutnick wrote on X in a post accompanied by a photo of himself with Intel CEO Lip-Bu Tan.
President Donald Trump revealed the deal earlier on Friday during remarks in the Oval Office, calling it a "great deal for them".
Shares of the Santa Clara, California-based chipmaker soared more than 5% on Friday.

 

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