The US will take a 10 per cent stake in struggling chipmaker Intel as it seeks to strengthen America’s semiconductor industry, in the latest corporate intervention by Donald Trump’s administration.
Intel late on Friday said the US government would make an $8.9bn equity investment, funded by federal grants that had been previously agreed under the 2022 Chips Act but not allocated. The pact will hand Washington a roughly 9.9 per cent stake in the group.
Trump said on his Truth Social Platform on Friday: “This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation.”
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