Trump administration vying to own a big stake in Intel
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Intel gets $2 billion from SoftBank
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Sen. Chris Coons (D-Del.) joins 'Squawk Box' to discuss President Trump's deal to allow Nvidia and AMD to sell chips to China, AI arms race with China, Trump administration's push for a stake in Intel,
The US government is in discussions to potentially take a partial ownership stake in Intel, according to an Aug. 18 report by Bloomberg. The deal could help accelerate the construction of Intel’s long-delayed semiconductor manufacturing plant in Ohio.
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Nvidia And Intel Lead Tech Stock Drop As White House Reportedly Seeks Equity For CHIPS Grants
Commerce Secretary Howard Lutnick told CNBC the U.S. government wants a stake in Intel in exchange for CHIPS Act grant money promised under Biden.
Intel is getting a $2 billion investment in common stock from SoftBank, which is betting big on the AI revolution.
The U.S. chipmaker has struggled to keep pace in the AI market alongside competitors like Nvidia. Softbank has agreed to buy Intel common stock at $23 per share.
Intel shares have jumped after Japanese technology investment giant Softbank said it is buying a $2bn (£1.5bn) stake in the US computer chip maker. The announcement came just hours after new reports that the Trump administration is in talks to take a stake of around 10% in Intel by converting government grants into shares.
A US government plan to take a stake in Intel Corp. would give the ailing chipmaker a powerful backer, even if a bigger challenge still lies ahead: finding enough paying customers.