US Seeks Intel Stake in Exchange for Federal Grants

The U.S. government is seeking an equity stake in chipmaker Intel, Commerce Secretary Howard Lutnick said on Aug. 19. In November 2024, the previous administration awarded Intel nearly $11 billion in grants from the CHIPS and Science Act—legislation designed to bolster U.S. semiconductor production—to support its domestic manufacturing investment plans. Rather than giving away grants, President Donald Trump thinks the United States “should get the benefit of the bargain,” according to Lutnick. “We should get an equity stake for our money, so we’ll deliver the money which was already committed under the Biden administration,” Lutnick told CNBC’s “Squawk on the Street” in Tuesday’s interview. “We’ll get equity in return for it, get a good return for the American taxpayer instead of just giving grants away.”...