The White House confirmed on Tuesday that the Trump administration is working on a deal that could see the US government taking a 10% stake in chip giant Intel.
“The president wants to put America’s needs first, both from a national security and economic perspective,” White House press secretary Karoline Leavitt told reporters.
The potential agreement could involve swapping existing government grants for Intel shares, according to US Commerce Secretary Howard Lutnick.
The highly unusual move could help Intel as it struggles to compete with rivals like Nvidia, Samsung and TSMC, particularly in the booming artificial intelligence (AI) chip market. Intel has been contacted by the BBC for comment.
The US wants a stake Intel in exchange for grants approved during the Biden administration, Lutnick said on CNBC on Tuesday.
“We should get an equity stake for our money,” he added. “We’ll get equity in return for that… instead of just giving…
