U.S. gov't will take a 9.9% ownership stake in Intel

[Initech]

The United States government will take an approximately 9.9% stake in Intel. The company announced the news today, shortly after President Trump told reporters about the news.

Intel's press release states that the government "will make an $8.9 billion investment in Intel common stock, reflecting the confidence the Administration has in Intel to advance key national priorities and the critically important role the company plays in expanding the domestic semiconductor industry."

That money will come from $5.7 billion in grants that have yet to be paid out to Intel under the CHIPS and Science Act alongside $3.2 billion for the Secure Enclave program, for which the company is making chips for the U.S. Department of Defense. Intel has already received $2.2 billion of its CHIPS Act funding.

"As the only semiconductor company that does leading-edge logic R&D and manufacturing in the U.S., Intel is deeply committed to ensuring the world’s most advanced technologies are American made,” said Intel CEO Lip-Bu Tan, in the press release. “President Trump’s focus on U.S. chip manufacturing is driving historic investments in a vital industry that is integral to the country’s economic and national security."
https://www.tomshardware.com/tech-industry/big-tech/trump-says-u-s-govt-will-take-a-10-percent-ownership-stake-in-intel-lip-bu-tan-reportedly-agreed-to-unprecedented-arrangement-for-a-domestic-chipmaker

What the actual fuck??? How is any of this OK? This is absolute insanity. And Intel is OK with this? This CEO should be fired. Then I won't be buying any of their products again any time soon.

[greatauntoftriplets]

1. Yet they're taking food out of childrens' mouths to pay for this.

[Silent Type]

2. Sounds like country is getting a stake by giving Intel money that was already earmarked as grants. Don't trust trump,

but not sure this is a bad thing. NOT SURE IT'S GOOD, either.

It's a different approach, that's for sure.

[flashman13]

3. Wait! What There is something crazy in this story. Trump is taking credit for grants that were appropriated

as part of Biden's CHIPS Act and he is saying that the grant money is somehow going to be used to purchase equity in Intel.

At least that is what it looks like by the information above.

I think Trump now his his nose under Intel's tent. The whole story sounds like a cover for what is really happening. Trump must be threatening some sort of leverage over Intel. It's all tin pot dictator style gangster government.

[UpInArms]

4. This is how oligarchs

work

When a government inserts themselves into the operation of a corporation, things become less independent

[hunter]

5. Installing back doors in every Intel chip isn't cheap.

Besides, who needs an export market when Uncle Sam is your sugar daddy...

[Initech]

6. I'll never buy an Intel CPU ever again.

Nobody tell him AMD exists!

[DingleBerryNW]

7. This is called Communism

[Red Mountain]

8. No but I think it's socialism

for sure.

[cachukis]

9. Embedded chips?

[Johonny]

10. Buying Intell stock makes rich people money

But doesn't give Intell any money unless they issue more stock that he is buying. This is just a pump and dump scheme.

[canetoad]

11. Makes me happy

That I've always gravitated towards AMD chips.