President Trump announced that Intel has agreed to give the U.S. government a 10% stake in the struggling American chipmaker. The administration has been weighing taking a stake in the struggling American chipmaker, pulling from previously allocated funding. Trump called on Intel CEO Lip-Bu Tan to resign earlier this month, pointing to concerns raised by Sen. Tom Cotton about Tan’s investments in Chinese companies and his previous role as CEO of Cadence Design Systems. Trump suggested that the U.S. should be given 10% of Intel, and he said that he liked him and thought he was a good candidate. Trump also suggested that Intel has been left behind compared to Nvidia CEO Jensen Huang and some of their friends. Commerce Secretary Howard Lutnick confirmed earlier this week that the administration has been weighing taking a stake in the struggling American chipmaker.
Trump has confirmed that Intel has agreed to a US stake. Enilsa Brown 43
