Trump says the US is taking a 10 percent stake in Intel

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President Donald Trump has confirmed that the US volition instrumentality a 10 percent involvement successful Intel. During a property league connected Friday, Trump said Intel CEO Lip-Bu Tan agreed to springiness the authorities the stake, which is valued astatine astir $10 billion. Earlier this month, Trump called connected Tan to resign implicit his ties to China, and contiguous helium positioned the woody arsenic a mode for the enforcement to “keep his job.”

Trump told reporters that helium floated the connection during negotiations with Tan. “I said, ‘I deliberation it would beryllium bully having the United States arsenic your partner,’” Trump said. “They’ve agreed to bash it, and I deliberation it’s a large woody for them.”

The confirmation of the woody comes conscionable days aft SoftBank announced plans to invest $2 cardinal into Intel to “further expand” chipmaking successful the US. Trump is expected to formally announce the statement with Intel aboriginal today.

Intel declined to comment.

The national government’s involvement successful the embattled chipmaker marks yet different determination that blurs the enactment betwixt authorities and business, arsenic reports suggest that the Trump medication has demanded that Nvidia and AMD give the authorities a 15 percent chopped of spot income to China.

Treasury Secretary Scott Bessent hinted astatine the government’s imaginable concern this week, saying during an interrogation with CNBC that it “would beryllium a conversion of grants” meant to “stabilize the institution for spot accumulation present successful the US.”

It doesn’t look similar this is the extremity for Trump’s attack to deal-making, arsenic helium said during the briefing that “he’ll bash much of them” successful the future.

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