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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.

Howard Lutnick Calls CHIPS Act a ‘Giveaway to Rich Companies’ Like Intel

Lutnick just laughed it off, indignantly pointing out that “we were just giving away the money” under the previous terms of the CHIPS Act. But the legality of any equity stake would likely be challenged by both Intel shareholders and competitors in the industry, according to the Times.
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Uncle Sam eyes slice of Intel in return for CHIPS Act cash

Micron, TSMC, and more have also been awarded billions in subisidies The US government is considering taking a stake in Intel and other semiconductor companies that benefit from CHIPS Act funding, according to officials from the Trump administration.

Bessent says the US wouldn't use a rumored stake in Intel 'to drum up business'

Treasury Secretary Scott Bessent said the White House wouldn't try to flex its power with a stake in Intel.

White House investment in Intel aimed at reshoring supply chains

The White House is reviewing taking a 10% stake in chipmaker Intel, White House Press Secretary Karoline Leavitt explains the end goal of what would be the first of its kind move.
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