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Benzinga
Benzinga
Business
Henry Khederian

Intel (INTC) Stock Cools Off After Trump Stake, David Tepper Bet Fuel Rally

Donald Trump Intel Corporation INTC
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Intel Corp (NASDAQ:INTC) shares are trading marginally lower Monday, seeing minor profit-taking amid a 14% surge over the past week. The stock is digesting significant gains fueled by reports that the Trump administration is exploring a direct financial stake in the chipmaker and news that a prominent hedge fund has initiated a new position.

What To Know: The rally began late Thursday after reports surfaced of discussions between President Trump and Intel CEO Lip-Bu Tan regarding a potential government investment. The proposed stake is aimed at revitalizing Intel's massive, but delayed, chip manufacturing facility in Ohio, a key project for re-shoring semiconductor production.

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