Sen. Rand Paul (Ky.), a libertarian-minded Republican, criticized the Trump administration’s push to acquire a stake in U.S. chipmaker Intel, suggesting the move would be a “step toward socialism.” “If socialism is government owning the means of production,

After the Trump administration confirmed a rumor that the US is planning to buy a 10 percent stake in Intel, US Senator Bernie Sanders (I-Vt.) came forward Wednesday to voice support for the highly unusual plan, finding rare common ground with Donald Trump.

The U.S. government wants an equity stake in Intel in exchange for cash grants approved during the administration of former President Joe Biden, Commerce Secretary Howard Lutnick said on Tuesday.

Commerce Secretary Howard Lutnick on Tuesday confirmed that the government wants Intel to cough up a 10% equity stake in exchange for nearly $8 billion in CHIPS Act funding approved by the Biden administration.

Treasury Secretary Scott Bessent said the White House wouldn't try to flex its power with a stake in Intel.

Enthusiasm for a potential U.S. government stake in Intel Corp. is pushing the chip maker's stock toward its best week in 50 years. Intel shares were up 6.8% in Friday trading, on top of a 7.4% rise in Thursday's session.