Intel must give government equity in return for CHIPS funds
Trade Secretary Howard Lutnick Tuesday Intel The US government should give a stock in the company in exchange for the Cips Law Funds.
On Tuesday of CNBC, we must buy a stock for our money in the “Squawk on the street”. ” He said. He continued: “Therefore, we will deliver the money already committed under the Biden administration. We will get equality in return for this.”
The shares of the struggling chip producer climbed 7% on Tuesday, and the Trump administration continued to gather on the latest reports that weighing different ways to be involved in the company.
Bloomberg On Monday, the White House was discussing 10% of Intel’s shares and that the US government was arguing with an agreement that could see that it was the greatest shareholder of chewing.
Intel and Softbank announced on Monday that the Japanese holding will earn $ 2 billion investment In the chip manufacturer. According to Factset, Intel makes equal investment in about 2%, and makes Softbank the fifth largest shareholder.
Lutnick said that any potential regulation will not provide the government to vote or governance rights in Intel.
“This is not a governance, but a grant under the Biden is transforming into equality for the American people for the Trump administration.” He said. “Not.”
Intel avoided commenting.
Lutnick also claimed that President Donald Trump could make similar agreements with other chips receivers.
Intel was given a grant of about $ 7.9 billion. Taiwan SemiLetken Production Inc. In order to increase chip production at Arizona facilities, $ 6.6 billion was given in accordance with the legislation.
“The Biden management was literally giving Intel free of charge and all these companies give them free money.” He said. “Donald Trump, ‘Hey, we want equality for money. If we give you the money, we want an action.’ “
Trump called on the country to reshape more reshaping US production to reduce the confidence of companies such as Samsung and TSMC.
Intel struggled to benefit from the explosion of artificial intelligence in advanced semiconductors and spent greatly to create a production business that has not yet secured an important customer. Intel touched Lip-Bu Tan as CEO in March after his predecessor Pat Gelsinger was dismissed in December.
Tan met with Trump in the White House last week after asking for his resignation, claiming that he had ties with China.
Intel 5 -day stock graph.
– Kif Leswing from CNBC contributed to this report.
