Bernie Sanders Backs Trump's Bold Chipmaker Initiative

Senator Bernie Sanders expressed support for President Donald Trump's plan to convert substantial U.S. grants for chipmakers, notably Intel's $10.9 billion, into government stakes in these firms. Sanders believes that taxpayers deserve a reasonable return if these companies profit from federal funding.

The initiative is rooted in the 2022 Chips and Science Act, established to entice chip production away from Asia while enhancing American semiconductor output through significant subsidies. Commerce Secretary Howard Lutnick is currently evaluating the potential for government equity in major chipmakers amid this strategic transition by the Trump administration.

This collaboration marks a significant shift in Trump's economic strategy toward state intervention, aligning more with left-leaning principles. Additionally, Trump has allowed AI giants like Nvidia and AMD to trade with China, with the U.S. government securing 15% of the sales revenue. Despite aligning with some past Democratic proposals, Senator Elizabeth Warren remains skeptical of Trump's broader economic strategy.

(With inputs from agencies.)