Trump administration in talks with Intel on possible government stake: Bloomberg
Make us a preferred source
Make us a preferred source on Google
The news: The Trump administration is reportedly in talks with Intel Corp to have the US government potentially take a stake in the chipmaker, Bloomberg reported, citing unnamed sources.
The discussions stem from a meeting this week between President Donald Trump and Intel Chief Executive Officer Lip-Bu Tan, after Trump publicly demanded Tan’s resignation over his investments in Chinese tech companies, some linked to the Chinese military.
Any agreement would likely help build out Intel’s planned USD28 billion chip complex in Ohio, which has been delayed until 2030–2031, according to people familiar with the plan cited by Bloomberg.
The numbers: The size of the potential stake has not been determined. Intel’s shares rose more than 7% after the report was published shortly before the market closed on Thursday (Friday AEST), giving the company a market value of about USD104.4 billion.
It gained another 3.5% after hours.
What they said: Intel has not commented on the report but told the publication in a statement that it was “deeply committed to supporting President Trump’s efforts to strengthen US technology and manufacturing leadership.”
The White House has not commented.
The source: Bloomberg
