Trump Administration In Advanced Talks To Acquire Stake In Intel, Seeking To Bolster Domestic Semiconductor Production And Strengthen U.S. Tech Supply Chains Amid Global Competition.
$INTC | Trump Administration Is Said To Discuss US Taking Stake In Intel - @business https://t.co/yoKcMw0lha
Breaking: Trump administration in talks to take stake in $INTC to help it expand its manufacturing in the USA This is 2 weeks after Trump said the CEO was a Chinese spy Intel up 7pct https://t.co/7UVU2oXvos
The administration of President Donald Trump is in talks with Intel Corp. about the U.S. government acquiring a stake in the semiconductor maker, Bloomberg reported, citing people familiar with the matter. The size and structure of the potential investment have not yet been determined. According to the report, the discussions follow a meeting last week between Trump and Intel’s chief executive and are aimed at supporting the company’s effort to expand domestic manufacturing, including a planned fabrication complex in Ohio. A government equity position would represent an unusual step to bolster a single U.S. technology firm amid intensifying global competition for chip production. Intel shares climbed about 7% to session highs after the news broke. The White House and the Santa Clara-based company have not publicly commented on the talks.