this post was submitted on 24 Aug 2025
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U.S. takes 10% stake in Intel as Trump flexes more power over big business (www.nbcnews.com)
submitted 1 day ago by themachinestops@lemmy.dbzer0.com to c/technology@lemmy.world
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Trump tweet:

It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future. I negotiated this Deal with Lip-Bu Tan, the Highly Respected Chief Executive Officer of the Company. The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation. MAKE AMERICA GREAT AGAIN! Thank you for your attention to this matter.

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[–] festus@lemmy.ca 16 points 7 hours ago (1 children)

When Biden was president the Democrats passed the Chips Act, which has grants for chipmakers to build in the US. When Trump took power he basically stopped issuing these grants to companies that were set to get them.

My understanding is that basically Intel will give 10% of itself if Trump stops blocking the grants it was already set to get. I guess Intel's thinking is that if they make the US a part owner, then Trump won't obstruct the company so much.

This might sound like good news (kind of) in that the government is getting equity in return for the money, but I doubt Trump will enforce the original requirements and purpose of the grants, so Intel probably won't end up finishing many of the factories it was supposed to build. It also sets a precedent that you can't rely on goverment grants to do things as future parties may change the terms of the deal retroactively, even after you already started.

[–] Regrettable_incident@lemmy.world 1 points 6 hours ago (1 children)

I don't understand why they would want to build in the US? There's plenty of places with cheaper labour.

[–] iopq@lemmy.world 5 points 5 hours ago (1 children)

In case of war the country needs national supply of chips to put in rockets, planes, everything really.

If you make everything in Taiwan and that's the place that's getting blockaded by enemy Navy...

[–] Jakeroxs@sh.itjust.works 2 points 3 hours ago

Is there some massive geopolitical issue hovering like a guillotine over Taiwan? ;)