The US government is aiming to take an equity stake in Intel in exchange for grants the company was already committed to receive under the Biden era CHIPS Act, according to comments US commerce secretary Howard Lutnick made in an interview with CNBC. The move is part of the government’s efforts to boost US chip manufacturing.
“We should get an equity stake for our money, so we’ll deliver the money which was already committed under the Biden administration,” Lutnick said. “We’ll get equity in return for it.” Previously, the government was discussing taking a 10 percent stake in Intel,
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