Trump Takes Bold Step: U.S. Secures Stake in Intel Amid Tech Renaissance
President Trump announced the U.S. will acquire a 10% stake in Intel, following a meeting that included demands for Intel CEO Lip-Bu Tan’s resignation. This move aims to bolster Intel's turnaround and signals strategic government involvement in U.S. semiconductor and tech sectors. Official details are forthcoming.
In a significant intervention into the corporate landscape, President Donald Trump declared on Friday that the United States will acquire a 10% stake in Intel amidst efforts to revitalize the struggling chipmaker. This announcement is part of a broader strategy of government involvement in critical sectors, with official details of this arrangement expected shortly.
Intel's current circumstances stem from a meeting earlier this month between its CEO, Lip-Bu Tan, and Trump, during which Trump reportedly pressured Tan to resign due to his ties with Chinese firms. Instead, a new deal was struck, with Trump boasting about securing $10 billion for the U.S. economy.
While Intel stocks saw a significant increase following the news, the company has refrained from commenting. Analysts note that the federal backing provides Intel relief to enhance its foundry business, although challenges remain in its product roadmap and customer acquisition. This announcement comes amidst Trump's broader strategy of securing government partnerships in high-stakes sectors, evident in ongoing negotiations with Nvidia and rare-earth producers.
(With inputs from agencies.)
- READ MORE ON:
- Intel
- Trump
- semiconductors
- stake
- chipmaker
- Lip-Bu Tan
- investment
- technology
- government
- corporate
Google News