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The Trump administration’s big Intel investment comes from already awarded grants
While Intel says the government is making an “$8.9 billion investment in Intel common stock,” the administration does not appear to be committing new funds.
In a regulatory filing in June, Intel said that while it had already received $2.2 billion in CHIPS Act funding, it had subsequently requested an additional $850 million in reimbursement that the government had not yet paid. According to The New York Times, some bankers and lawyers believe the CHIPS Act may not allow the government to convert its grants to equity, opening this deal to potential legal challenges. For his part, Tan said in a statement that the company is “grateful for the confidence the President and the Administration have placed in Intel, and we look forward to working to advance U.S. technology and manufacturing leadership.”
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