Intel, White House
Digest more
Commerce Secretary Howard Lutnick told CNBC the U.S. government wants a stake in Intel in exchange for CHIPS Act grant money promised under Biden.
From Intel to Nvidia, the Trump administration is rewriting the playbook on how the presidency interacts with American capitalism.
The Trump administration is in talks to take a 10% stake in Intel by converting some or all of the struggling company's Chips Act grants into equity, Bloomberg News reported, citing a White House official and other people familiar with the matter.
Treasury Secretary Scott Bessent said the White House wouldn't try to flex its power with a stake in Intel.