Trump's Bold Intel Deal: Boosting U.S. Tech and Economy
Former President Donald Trump announced a significant deal with Intel, taking a 10% stake to revitalize the chipmaker by transforming government grants into equity. This deal, involving substantial funding from previous initiatives, aims to enhance American technological prowess and economic strength while creating jobs in the U.S.
In a strategic move to revitalize the United States' tech industry, former President Donald Trump unveiled a landmark deal with Intel, the embattled chip manufacturing giant. The U.S. will acquire a 9.9% equity stake worth $8.9 billion under this agreement, converting past government grants into tangible investments.
Trump took to Truth Social to express enthusiasm for the plan, highlighting its potential to boost U.S. economic growth and employment. "I plan to strike more deals just like this to make the USA richer," he emphasized, asserting that such initiatives will drive up company stock prices and bolster the nation's financial status.
The funding stems from prior initiatives, including the Biden-era CHIPS Act and the Secure Enclave program, repurposing a total of $10 billion to support Intel's expansion of domestic factories. As Trump's plan unfolds, it aims to set a new precedent for government-business collaboration, fostering stability and innovation in the tech sector.
(With inputs from agencies.)
Google News