Trump Administration reportedly wants stake in Intel
President Donald Trump is in talks with chip manufacturer Intel to take a stake in the company, according to Bloomberg.
According to people familiar with the plan, a deal could help Intel out by providing the necessary aid to build a factory hub in Ohio, which has been repeatedly delayed.
A spokesperson of the US government told Bloomberg that discussions about hypothetical deals should be considered speculation, unless the government formally announces them.
Intel says it is committed to supporting Trump’s plans to “strengthen America’s leadership in technology and manufacturing.”
The plans emerged from a meeting between Trump and Intel CEO Lip-Bu Tan earlier this week. Intel’s CEO visited the White House to convince the President he’s the right person in the right position to advance America’s ambitions as the largest chip manufacturer in the world.
Just before Tan’s visit, President Trump accused him of being “highly conflicted” and demanded that he would resign immediately.
Tan used to be the CEO of Cadence Design Systems, which recently pleaded guilty to illegally selling export-controlled American technologies to entities connected to the Chinese military. In addition, Tan made some investments in semiconductor firms with close ties to the Chinese Communist Party and the People’s Liberation Army.
What Tan told President Trump remains unclear, but what we do know is that Trump had a sudden change of heart.
“I met with Mr. Lip-Bu Tan, of Intel, along with Secretary of Commerce, Howard Lutnick, and Secretary of the Treasury, Scott Bessent. The meeting was a very interesting one. His success and rise is an amazing story. Mr. Tan and my Cabinet members are going to spend time together, and bring suggestions to me during the next week,” the president wrote on his social media platform, Truth Social.
