Trump Administration Mulls 10% Stake in Intel
Digest more
Intel shares fell 3.7% on Monday, after reports that Trump administration officials are talking about taking a 10% stake in the chip maker. The move would be part of a government effort to save the embattled company and boost semiconductor manufacturing in the U.
The US government is weighing a plan to take roughly a 10% equity stake in Intel by converting part of the company’s awards under the Chips and Science Act into stock
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.
Less than two weeks after President Donald Trump called for the ouster of Intel Corp.’s Lip-Bu Tan, the company’s chief executive officer has a shot at securing billions of dollars in fresh capital that could help him turn around the troubled US chipmaker.
Shares of Intel (NASDAQ:INTC) were on track to snap six days of gains, as the stock fell more than 2.7% to $23.92 in Monday afternoon trade. The chipmaker gained more than 23% in the last six trading sessions.