US president Donald Trump says Intel should give the US government a 10% stake in the company, echoing a recent statement made by US commerce secretary Howard Lutnick, who said earlier this week that the US government should get an equity stake in Intel in exchange for CHIPS Act funding.
Trump had actually called for the immediate resignation of Intel CEO Lip Bu Tan earlier this month over his alleged ties to China, but minds apparently changed following a meeting between the two, as the US government began talks about taking a stake in the company. Lutnick then said Intel's funding under the CHIPS Act, which Trump called "a horrible, horrible thing" earlier this year, should come in exchange for providing a stake in the company.
