Intel, Trump and SoftBank
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Sen. Rand Paul (Ky.), a libertarian-minded Republican, criticized the Trump administration’s push to acquire a stake in U.S. chipmaker Intel, suggesting the move would be a “step toward socialism.” “If socialism is government owning the means of production,
The U.S. government wants an equity stake in Intel in exchange for cash grants approved during the administration of former President Joe Biden, Commerce Secretary Howard Lutnick said on Tuesday.
White House officials are discussing the move as part of a government effort to rescue the embattled chip maker and bolster U.S. semiconductor manufacturing. Robbie Whelan and [_
Intel looks to be set to get the U.S. government as a shareholder. The Trump administration could pursue equity stakes in other companies including Taiwan Semiconductor Manufacturing
SoftBank is investing $2 billion in Intel, even as the White House is considering taking a 10% stake in chipmaker per reports, as talks with the company and Trump's team advance.
Treasury Secretary Scott Bessent said the White House wouldn't try to flex its power with a stake in Intel.
Enthusiasm for a potential U.S. government stake in Intel Corp. is pushing the chip maker's stock toward its best week in 50 years. Intel shares were up 6.8% in Friday trading, on top of a 7.4% rise in Thursday's session.