President Donald Trump has confirmed that the US will take a ten p.c stake in Intel. Throughout a press convention on Friday, Trump mentioned Intel CEO Lip-Bu Tan agreed to present the federal government the stake, which is valued at round $10 billion. Earlier this month, Trump known as on Tan to resign over his ties to China, and immediately he positioned the deal as a approach for the chief to “hold his job.”
Trump advised reporters that he floated the supply throughout negotiations with Tan. “I mentioned, ‘I feel it might be good having america as your accomplice,’” Trump mentioned. “They’ve agreed to do it, and I feel it’s an ideal deal for them.”
Treasury Secretary Scott Bessent hinted on the authorities’s potential funding this week, saying throughout an interview with CNBC that it “can be a conversion of grants” meant to “stabilize the corporate for chip manufacturing right here within the US.”
It doesn’t look like that is the top for Trump’s strategy to deal-making, as he mentioned throughout the briefing that “he’ll do extra of them” sooner or later.