White House mulls 10% Intel stake
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Trump administration might convert Intel’s subsidies into ownership stake, Bloomberg reports
The new plan would be far less appealing, at least from Intel's perspective, than a proposal reported last week.
The White House is considering taking a 10% stake in chipmaker Intel per reports as talks with the company and Trump's team advance.
Intel (INTC, Financials) shares dropped 5% Monday after Bloomberg reported the Trump administration is considering taking about a 10% stake in the chipmaker. Warning! GuruFocus ha
The U.S. government may take a 10% stake in Intel Corp., multiple publications reported today.
Intel stock was down 3.9% after Bloomberg reported that the Trump administration could convert Chips Act grants into a 10% equity stake in Intel.
(Reuters) -Intel shares rose nearly 4% on Friday on hopes of more financial aid for the turnaround of the struggling chipmaker after a report that the U.S. government may buy a stake. The Bloomberg News report followed a meeting between CEO Lip-Bu Tan and President Donald Trump on Monday after Trump demanded the new Intel chief's resignation over his "highly conflicted" ties to Chinese firms.
The latest developments in the ongoing soap opera that is Intel sees the federal government considering purchasing a stake in the company in a bid to speed up completion of its delayed advanced fabrication facilities, while yet another executive is casting aspersions on CEO Lip-Bu Tan.
In a just-breaking development, Bloomberg reports the Trump administration may take a 10% stake in Intel ( INTC -3.71%) -- which perversely is down 3.9% on the news, at least as of 12:35 p.m. ET. Probably not the reaction that either the Trump administration or Intel itself anticipated.
Rumors about the federal government buying a stake in chipmaker Intel reignited Monday with a report the government is evaluating taking a 10% stake in the company.
President Donald Trump on Aug. 7 called for Intel CEO Lip Bu Tan to resign, accusing him of being “highly conflicted” over reported investments in Chinese semiconductor firms. The remarks, expressed via a post on his Truth Social network,