If you recall, yesterday we mentioned that the Trump administration was considering a 10% stake in poor old, beleaguered Intel. Now it turns out that the mooted investment won't strictly be in return for new money. Instead, Trump wants the 10% stake as part of the CHIPS Act deal inked under the previous Biden administration.
In an interview with CNBC yesterday, Commerce Secretary Howard Lutnick said Intel must give the US government an equity stake in the company in return for those CHIPS Act funds.
