President Donald Trump touted the federal government’s stake in chipmaker Intel and pledged to make similar deals “all day long.”
Last week, Intel and the White House announced that the federal government would acquire a 10 percent stake in the company, or 433 million shares, valued at $8.9 billion.
Most of the funding will come from CHIPS and Science Act grants, with the remainder allocated through a separate government initiative—the Secure Enclave program. The investment is aimed at ensuring the tech giant continues to build or expand factories in the United States.
Trump, in an Aug. 25 Truth Social post, questioned why “people are unhappy” with this arrangement and vowed similar agreements in the future….