The White House announced Friday that the U.S. government now officially holds a 10 percent stake in struggling chipmaker Intel.
Commerce Secretary Howard Lutnick announced the deal on X.
“BIG NEWS: The United States of America now owns 10% of Intel, one of our great American technology companies,” Lutnick wrote.
The deal had been in the works since the White House signaled early this week that the U.S. government would seek a stake in the company in exchange for the almost $11 billion in grants from the CHIPS and Science Act.
Before the announcement, President Donald Trump confirmed that Intel had agreed to give the federal government a 10 percent stake in the company….
US Government Takes 10 Percent Stake in Intel
