US EditionTrump’s Federal Stake in Intel Prompts GOP Complaints
The U.S. government acquired a 10% stake in Intel via an $8.9 billion investment from CHIPS Act funds, marking a shift towards government equity in strategic industries.
- Intel’s board approved the deal, which does not require shareholder approval, sparking division among Republicans, with some lawmakers opposing the government's involvement in private industry.
- Trump defended the deal on Truth Social, stating, 'The United States paid nothing for these shares,' emphasizing the goal of ensuring taxpayer support leads to financial returns.
- Reactions among Republicans were mixed, with some supporting the move for national competitiveness, while critics warned that this approach could lead to increased government control over businesses.
127 Articles
127 Articles
Stephens: Trump’s assault on capitalism has only just begun
HeraldNet.com HeraldNet.com - Everett and Snohomish County news from The Daily Herald in Everett, Washington Coercing a stake in Intel is not only a bad deal for the country; it’s a ominous precedent. Stephens: Trump’s assault on capitalism has only just begun Wire Service
"If you support socialism, apparently Donald Trump is your man," said a conservative presenter after the state's purchase of Intel shares
Trump defends federal ownership of Intel
(NEXSTAR) - President Donald Trump says it is in the nation’s best interest for the federal government to own a 10% stake in Intel, one of the country’s largest technology companies. The agreement converts billions of dollars in previously granted funds into equity, making the U.S. government a major shareholder in the semiconductor company. “I wanna see Intel do well,” Trump said. The deal is tied to the CHIPS and Science Act, a law designed to…
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