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U.S. takes 10% stake in Intel as Trump flexes more power over big business
The semiconductor maker has struggled to keep up in the artificial intelligence boom with rivals such as Nvidia and AMD.
President Donald Trump announced the deal on his Truth Social platform Friday, praising the company's CEO just two weeks after he called on the executive to resign over alleged China ties. Congress published a study in 2003 that examined the impact of the federal government taking direct stakes in public companies, concluding that doing so would “not offer a free lunch” and expose taxpayers to “greater risk” alongside the upside potential. But amid the ongoing artificial intelligence arms race — and the goal of making computer chips a national security priority — Trump officials zeroed in on Intel as a means of leveling up U.S. control over semiconductor production.
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