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Trump Is Betting Big on Intel. Will the Chips Fall His Way?
The Trump administration is aiming to take an equity stake in Intel, according to US commerce secretary Howard Lutnick. Experts say the unconventional deal could backfire.
The US government is aiming to take an equity stake in Intel in exchange for grants the company was already committed to receive under the Biden era CHIPS Act, according to comments US commerce secretary Howard Lutnick made in an interview with CNBC. The deal could help the venerable chipmaker fund its US-based semiconductor fabrication plants, or fabs, which have required billions of dollars to construct and maintain, even as demand for Intel chips has waned in recent years. More recently, the Department of Defense agreed to fund a US-based rare earth magnet company, MP Materials, via equity and loans, in order to expand production and decrease the country’s reliance on China.
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