President Donald Trump took to Truth Social yesterday to announce that the US government has taken a 10% stake in American chipmaker Intel.
The deal comes as Intel struggles to compete with rivals like semiconductor companies like Nvidia, AMD, and more.
Trump claimed the US paid nothing for the shares, valuing them at ~$11 billion. Intel is set to receive $10 billion in the federal CHIPS Act grants, meant to boost American semiconductor manufacturing.
The move follows Trump’s reversal of criticism of the newly appointed Intel CEO, Lip-Bu Tan.
Supporters like Commerce Secretary Howard Lutnick called the Intel deal “historic.”
Critics, including Sen. Mark Warner, warned it could create new corporate risks. He asked Congress to scrutinize the growing government role in private-sector deals.