US pursuing stake in struggling chipmaker Intel, commerce secretary says
by Blake Montgomery in New York from US news | The Guardian on (#6ZDQ6)
Trump administration looking to convert funding from Chips Act into equity in the semiconductor manufacturer
The US government is pursuing a stake in Intel, the US commerce secretary said on Tuesday, confirming reports of discussions between officials and the company that have circulated for the better part of a week.
The Trump administration wants to convert funding from the Chips and Science Act, which funds research and manufacturing of semiconductor chips in the US, into equity in the struggling tech company, according to Howard Lutnick.
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