The White House announced Friday that the U.S. government now officially holds a 10 percent stake in struggling chipmaker Intel.
Commerce Secretary Howard Lutnick announced the deal on X.
US Government Takes 10 Percent Stake in Intel
The White House had been seeking an equity stake in the company in exchange for the almost $11 billion in grants from the CHIPS and Science Act.
Intel headquarters seen in Santa Clara, Calif., on Aug. 1, 2024. Justin Sullivan/Getty Images
Andrew Moran
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Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
