Trump Administration in Talks to Acquire Stake in Intel to Bolster US Chipmaking
The Trump administration is in discussions with Intel Corp. over a potential government stake in the struggling chipmaker, aiming to accelerate domestic semiconductor manufacturing, according to Bloomberg.
The proposed investment would support Intel's long-delayed Ohio chip facility, once promised as the world's largest semiconductor plant, which has faced repeated construction setbacks and mounting financial strain. The size of the stake under consideration has not been disclosed.
Intel stock price surged 7.38% to $23.86 following the news. The talks follow a meeting earlier this week between President Donald Trump and Intel Chief Executive Lip-Bu Tan. One source said the U.S. government would pay for the stake, while another cautioned that the plan remains fluid.
Intel declined to comment on the negotiations but said in a statement that it was 'deeply committed to supporting President Trump's efforts to strengthen America's leadership in technology and manufacturing,' adding that it would not address 'rumors or speculation.' The White House did not respond to requests for comment.
A deal could bolster Intel's balance sheet as it cuts spending and reduces headcount, while also signaling that Tan is likely to remain in his position despite earlier calls from Trump for his removal over concerns about his ties to China.
The move would mark another example of Trump's direct intervention in strategic industries. His administration recently secured rights to 15% of certain semiconductor sales to China and acquired a so-called 'golden share' in United States Steel Corp. as part of approving its sale to a Japanese competitor.
The Pentagon last month also took a $400 million preferred stake in MP Materials Corp., a U.S. rare-earth producer, an unprecedented step that made it the company's largest shareholder.
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