Trump administration reportedly weighs 10% stake in Intel
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Asked about reports that the U.S. was considering taking a 10% stake in Intel, Bessent told CNBC's "Squawk Box" program: "The stake would be a conversion of the grants and maybe increase the investment into Intel to help stabilize the company for chip production here in the U.S."
Money might not be the solution to Intel Corp.’s problems.
Treasury Secretary Scott Bessent said the White House wouldn't try to flex its power with a stake in Intel.
The U.S. government aims to take an equity stake in Intel, Commerce Secretary Howard Lutnick said Tuesday morning.“We should get an equity stake for our money, so we’ll deliver the money which was already committed under the Biden administration,
Intel shares are trading marginally lower Monday. The stock is digesting significant gains fueled by reports that the Trump administration is exploring a direct financial stake.