Intel, White House
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Commerce Secretary Howard Lutnick on Tuesday confirmed that the government wants Intel to cough up a 10% equity stake in exchange for nearly $8 billion in CHIPS Act funding approved by the Biden administration. Lutnick said the the stake would be a return on its “investment” in the struggling chipmaker.
Treasury Secretary Scott Bessent said the White House wouldn't try to flex its power with a stake in Intel.
U.S. government seeking equity in Intel