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Why the US government is taking a stake in Intel
The U.S. government's recent stake in Intel comes after a long period of floundering at the company's foundry business.
In late August, The Trump administration took an unprecedented step toward that goal when it converted an existing government grant, meant for domestic semiconductor manufacturing, into a 10% equity stake in Intel. In November 2024, there was a noticeable bright spot as the company reached a deal with the U.S. government for$7.86 billion in federal grants through the 2022 Chips and Science Act meant to boost domestic semiconductor manufacturing. On August 6, Republican Senator Tom Cotton penned a letter to Intel’s board of directors, asking about Tan’s ties to China, including his relationship with Cadence Design Systems, according to reporting from Bloomberg.
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