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Submitted
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timeOday
y August 23, 2025 @09:27AM
timeOday writes:
President Trump said on Friday that Intel, the troubled Silicon Valley chipmaker, had agreed to sell the U.S. government a 10 percent stake in its business, worth $8.9 billion, in one of the largest government interventions in a U.S. company since the rescue of the auto industry after the 2008 financial crisis.
At a news conference, Mr. Trump said the agreement had come out of negotiations last week with Lip-Bu Tan, Intel’s chief executive.
“I said, ‘I think it would be good having the United States as your partner.’ He agreed, and they’ve agreed to do it,” Mr. Trump said. “And I think it’s a great deal for them"
...
The government will not take a board seat or have other governance rights at Intel.
It seems surprising, only days after calling on the CEO to resign. This is on top of Biden's CHIPS act. Is the chip industry in such dire straits?
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