President Donald Trump dropped a bombshell this Friday: the U.S. government will take a 10% stake in Intel, worth a cool $10 billion 💰. This news, first reported by multiple outlets, marks an extraordinary intervention in a leading private tech giant.
At an event alongside Intel CEO Lip-Bu Tan, Trump said, "I think you should pay us 10% of your company." According to The Washington Post, Tan gave the green light on the spot. In the Oval Office, Trump doubled down: "I think it's a great deal for them. And I think it's a great deal."
Why this matters: The move is part of a broader push to supercharge semiconductor manufacturing in the U.S. 🤖 Chips are the engine of everything from smartphones to electric cars, and Trump's team wants more of that engine running on American soil.
How big is it? If finalized, this could be one of the largest government interventions in U.S. corporate history since the 2008 auto bailouts. Back then, the government poured tens of billions into Chrysler and General Motors to keep them afloat. Today, we could see a similar playbook in the heart of Silicon Valley.
What's next: Trump hinted at more deals like this, saying his administration is exploring stakes in other 'critical' industries. Whether this sparks a chip-making renaissance or shakes investor norms, one thing's for sure: it's a bold bet on America's tech future 🚀.
Reference(s):
cgtn.com
