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Al Jazeera
Al Jazeera
Technology

Trump says US to take 10 percent stake in Intel

Intel Corporation Donald Trump United States LipBu Tan
Intel's shares rose on the announcement of the stake investment [File: Paul Sakuma/AP]

The United States government will take a 10 percent stake in Intel under an agreement with the struggling chipmaker, President Donald Trump has said, marking the latest extraordinary intervention in corporate affairs.

The US agreed to purchase a 9.9 percent stake in Intel for $8.9bn at a price of $20.47 a share, which is a discount of about $4 per share from Intel’s closing share price of $24.80 on Friday.

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