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CNBC
13 minutes ago
- CNBC
Trump administration weighs 10% stake in Intel via Chip Act grants, making government top shareholder
The Trump administration is discussing taking a 10% stake in Intel, according to a Bloomberg report on Tuesday, in a deal that could see the U.S. government become the chipmaker's largest stakeholder. As part of a potential deal, the government is also considering converting some or all of Intel's grants from the 2022 U.S. CHIPS and Science Act into equity in the company, the report said, citing a White House official and other people familiar with the matter. At the embattled chipmaker's current market value, a 10% stake would be worth roughly $10.4 billion. Meanwhile, Intel has been awarded about $10.9 billion in Chips Act grants, including $7.9 billion for commercial manufacturing and $3 billion for national security projects. The report noted, however, that it remains unclear if the idea has gained traction broadly within the administration or whether officials have broached the possibility with affected companies. It added that the exact size of the stake remains in flux, and it remains unclear whether the White House will actually proceed with the plan. Intel and the White House did not immediately respond to CNBC's queries regarding the report. Intel, once a dominant force in the U.S. chip industry, has fallen behind global competitors in advanced chip manufacturing. Reviving the former U.S. chip champion has become a national priority in Washington, with reports about a potential government stake in the company first circulating last week. The company has been the largest recipient of the 2022 Chips Act, passed with bipartisan support under the Biden administration, as part of efforts by Washington to revitalize U.S. leadership in semiconductor manufacturing. The bill allocated $39 billion in grants for American semiconductor manufacturing projects, with funding committed to many of the world's chipmakers such as TSMC and Samsung, as well as American chip companies such as Nvidia, Micron and GlobalFoundries. U.S. President Donald Trump, though supporting the general goals of the Chips Act, has been a vocal critic of the bill and even called for its repeal earlier this year. While republican lawmakers in Washington have been reluctant to act on that call, U.S. Commerce Secretary Howard Lutnick said in June that the administration was renegotiating some of the bill's grants. If Intel's Chip Act funds were to be converted into a potential government stake in the company, it could decrease the total amount of capital infused into the company as part of any deal by Washington. However, it would serve as the latest example of the Trump administration's interest in building government-backed national champions in strategic industries. Intel has struggled to gain an advantage in the artificial intelligence boom and has yet to capture a significant customer for its manufacturing business despite spending heavily on it. Some analysts have argued that government intervention is essential for the struggling chipmaker and for the sake of U.S. national security. Others contend that Intel's problems are deeper than funding, and it is not clear how the government can help with that. Analysts have also noted that Trump may be able to sway companies to buy Intel chips or assist indirectly, through tariffs and regulation. On Tuesday, it was announced that SoftBank was investing $2 billion in Intel. According to LSEG, the investment is worth about 2% of Intel, making SoftBank the fifth-biggest shareholder. Masayoshi Son, Chairman & CEO of SoftBank Group, said: "This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role." Intel investors had initially welcomed news of the government investment, which resulted in a share rally of nearly 9% on Aug. 14. Shares of Intel fell over 3% on Monday on the Bloomberg report, but rebounded by more than 5% in overnight trading on the trading platform Robinhood following news of a Softbank investment. Intel CEO Lip-Bu Tan, who was appointed in March 2025, met with Trump at the White House last week, after the U.S. president had called for his ousting due to his past ties to China. After the meeting, Trump had changed his tune on the Intel chief, saying he had "an amazing story." It's unclear if a potential government stake in the company had been discussed at the time. Read the full Bloomberg story here.
CNBC
21 minutes ago
- CNBC
Gold steadies ahead of Fed's Jackson Hole summit
Gold prices were little changed on Tuesday as investors awaited the Federal Reserve's annual conference this week for cues into possible rate cuts, and weighed Washington's efforts to end the war in Ukraine. Spot gold held steady at $3,331.49 per ounce as of 0201 GMT. U.S. gold futures for December delivery fell 0.1% to $3,375.40. Fed Chair Jerome Powell's remarks at the central bank's symposium on August 21-23 in Wymoing could offer clarity on the economic outlook and expectations of policy easing. "Gold is still consolidating and is really waiting for a new catalyst to break higher. I think the big event to watch is Jackson Hole and whether the Fed brings the dovish guidance or not," said Kyle Rodda, financial market analyst. Market participants currently see an 84% probability of a 25-basis-point rate cut at the Fed's next meeting, per the CME FedWatch tool. Gold typically performs well in a low-interest-rate environment and amid heightened uncertainties. Minutes from the Fed's July meeting, due for release on Wednesday, are expected to provide additional cues into its policy. On Monday, U.S. President Donald Trumptold President Volodymyr Zelenskiy that Washington would help guarantee Ukraine's security in any potential deal to end Russia's war. This assurance followed Trump's meeting with Russian President Vladimir Putin in Alaska, which ended without an agreement. Trump described his meeting with Zelenskiy as "very good", and, in a social media post, said he had called the Russian leader and begun arranging a meeting between Putin and Zelenskiy. "In the unlikely event some sort of deal gets struck (between Ukraine and Russia), that could be a very negative surprise for the gold price," Rodda said. Elsewhere, spot silver fell 0.5% to $37.82 per ounce, platinum rose 0.1% to $1,323.76 and palladium lost 0.9% to $1,112.34.
Business Insider
29 minutes ago
- Business Insider
What's Powering the Wild Rally in Sunrun Stock (RUN)?
Sunrun (RUN) stock has been on an upward trend lately. The rally was mainly fueled by the company's strong Q2 results, followed by a series of bullish analyst calls. The earnings beat not only exceeded expectations but also restored investor confidence in the solar sector, which had been under pressure from reduced clean energy tax credits under the Trump administration. Since its Q2 release on August 6, Sunrun's stock has surged over 45%. RUN shares were up another 3% in pre-market trading on Monday. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. For context, Sunrun is a U.S. solar energy solutions company, offering rooftop panels, home batteries, and clean energy solutions. Sunrun Shines in Q2 Results Sunrun delivered record Q2 results, with revenue up 9% year-over-year to $569.3 million. Meanwhile, EPS surged to $1.07 in Q2 2025, up from $0.55 a year earlier, easily beating expectations for a loss. The company's storage attachment rate reached an all-time high of 70%, underscoring its leadership in distributed solar and clean energy solutions. For context, the storage attachment rate is the percentage of solar installations that also include a battery storage system. A higher rate means Sunrun is moving beyond just solar panels and building a broader clean energy network. Analysts Back Sunrun's Growth Story Following the results, analysts reacted positively, with several brokerages raising their price targets. For instance, J.P. Morgan's four-star-rated analyst Mark Strouse lifted his price target from $16 to $20 while maintaining his Buy rating. The price target implies a growth rate of over 40% from current levels. At the same time, Oppenheimer's top-rated analyst Colin Rusch boosted his target to $21, citing strong contracted value and growth prospects. In addition, Rusch believes Sunrun can boost profits by raising prices as electricity costs climb, using its buying power to cut equipment costs, and growing its lead as the top solar financing provider. He also sees Sunrun benefiting from lower interest rates in the future, which he says the stock doesn't yet fully reflect. Furthermore, Wells Fargo's five-star-rated analyst Michael Blum also raised his target to $14. Blum stated that Sunrun's cash flow outlook looks strong following the 'One Big Beautiful Bill Act' and continues to see the company as a top pick in residential solar. Is Sunrun Stock a Good Buy? Turning to Wall Street, RUN stock has a Moderate Buy consensus rating based on 11 Buys, eight Holds, and two Sells assigned in the last three months. Also, the average Sunrun stock price target of $15.4 implies a 10.5% upside potential from current levels.
