Intel gets $5.7 billion from Trump deal while details are ‘ironed out’

Intel CFO David Zinser said the semiconductor giant received $ 5.7 billion from the US government on Wednesday evening.

Zinsner accepted investment on Thursday during an investor conference. The investment is part of the White House’s decision to receive a 10% stake at the besieged computer chip on Friday.

Zinser also pointed out the possibility of Intel’s search for foreign investment for the documentary work.

The company reported the second quarter results better than expected on July 25, but shares fell by 8% due to concerns about the work of the Foundry unit, which produces computer chips for other companies.

“There will be an opportunity for foreign investors in Foundry, and we will probably have the second opportunity to collect cash to finance the growth on the casting side.” He said.

White House Press Secretary Karoline Leavitt said on Thursday that the Intel agreement was still “ironed by the Ministry of Commerce”.

Leavitt, “T is still passing, I’m still dotted.” He said. “Still in discussion.”

Intel has published a corporate filing On Monday, he warned that the agreement with the US government could provide “negative reactions” from investors, employees and others.

Filing, “investors, employees, customers, suppliers, other business or commercial partners, foreign governments or competitors can be negative reactions immediately or over time.” He said. He continued: “The proceedings may be sued or otherwise, and there may be increasing public or political investigations according to the company.”

WRISTWATCH: Intel CFO: Received $ 5.7 billion in cash last night from the US government.