US buys 10% stake in chipmaker Intel for $8.9 billion
Kyiv • UNN
The United States will acquire a 10% stake in chipmaker Intel for $8.9 billion. The company will receive a government grant, with the US not having a seat on the board of directors.
The United States is buying a 10% stake in chipmaker Intel. This was announced by US President Donald Trump, UNN reports with reference to Reuters.
Details
Under the agreement, Intel will receive a government grant from the US, and in return will provide the US with a package of approximately 10% of Intel shares for $8.9 billion. Part of the funds will be taken from the funding allocated under the CHIPS Act, adopted during Joe Biden's presidency. At the same time, Intel noted that the US will not receive a seat on the company's board of directors.
Trump and Intel CEO Lip-Bu Tan met the day before. After the meeting, the US president announced the deal.
He came wanting to save his job, and as a result he gave us $10 billion for the United States. So we got $10 billion
It is indicated that Intel applied for a grant from the US, as it has losses in the sale of microchips due to the development of artificial intelligence and its implementation into microchips.
For reference
Intel Corporation is the world's largest manufacturer of semiconductor elements and devices, best known as the developer and manufacturer of x86-series microprocessors, processors for IBM-compatible personal computers.
Recall
The EU and the US approved a framework trade agreement. A 15% tax will apply to almost all European goods to the US, while Europe will abolish import tariffs on American products and purchase chips, energy carriers, and military equipment.