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U.S. Takes 10% Stake in Intel to Boost Domestic Semiconductor Manufacturing
U.S. Takes 10% Stake in Intel to Boost Domestic Semiconductor Manufacturing
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BTCCSquare news:
Intel shares extended gains in premarket trading after the U.S. government acquired a 9.9% stake in the chipmaker for approximately $11 billion. The deal, negotiated by former President Donald TRUMP and Intel CEO Lip-Bu Tan, involves the purchase of 433.3 million shares at $20.47 each.
Commerce Secretary Howard Lutnik hailed the agreement as a historic MOVE to strengthen U.S. leadership in semiconductor production. The investment aligns with broader efforts to onshore critical technology manufacturing and secure America's competitive edge in advanced computing.
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