US in talks over 10% Intel stake, White House confirms
The US wants a stake Intel in exchange for grants approved during the Biden administration, Lutnick said on CNBC on Tuesday."We should get an equity stake for our money," he added. "We'll get equity in return for that... instead of just giving grants away."The potential deal, which was first reported last week, aims to help Intel build a flagship manufacturing hub in the US state of Ohio. At the time, a White House spokesman told the BBC that the reports "should be regarded as speculation" unless officially announced.Last week, Intel did not comment directly about reports but said it was "deeply committed to supporting President Trump's efforts" to strengthen manufacturing and technology in the US.On Monday, Japanese investment giant Softbank said it would buy a $2bn (£1.5bn) stake in Intel.After the announcement, Intel's shares rose by almost 7% in New York on Tuesday.
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