CHIPS, Intel and equity stake
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Intel, US and White House
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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. Lutnick said the the stake would be a return on its “investment” in the struggling chipmaker.
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The White House is reviewing taking a 10% stake in chipmaker Intel, White House Press Secretary Karoline Leavitt explains the end goal of what would be the first of its kind move.