Get the latest tech news
Palantir cofounder on the US taking a stake in Intel: 'The whole thing is very weird'
Palantir cofounder Joe Lonsdale said the government's decision to take a stake in Intel is "cronyism in some form."
Joe Lonsdale, the cofounder of Palantir and founding partner of Austin-based venture capital firm 8VC, said Thursday he was "uncomfortable" with the government's $8.9 billion investment in Intel. Intel said in a press release that the "government's equity stake will be funded by the remaining $5.7 billion in grants previously awarded, but not yet paid, to Intel under the US CHIPS and Science Act and $3.2 billion awarded to the company as part of the Secure Enclave program." National Economic Council Director Kevin Hassett told CNBC last month that more investments in other companies are possible and likened the Intel stake to a sovereign wealth fund.
Or read this on r/technology
