From CNET: The US government has officially taken a 10% stake in Intel in what seems to be a bid to save the chip maker, Secretary of Commerce Howard Lutnick unveiled in a post on X on Friday.
Intel confirmed its agreement with the Trump Administration in a press release issued late Friday, saying it reflects "the confidence the administration has in Intel to advance key national priorities and the critically important role the company plays in expanding the domestic semiconductor industry."
Under the deal, the US government is committing $8.9 billion to purchase Intel stock, which would give the government a 9.9% stake in the company. That's in addition to the $2.2 billion grant Intel has already received from the US under the CHIPS Act, which was signed into law by former President Joe Biden in 2022.
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