The United States government is making an $8.9 billion investment in Intel, representing a 9.9 percent stake in the company, according to a press release the company published on Friday.
The investment will be funded by $5.7 billion in grants Intel was awarded under the 2022 CHIPS Act and $3.2 billion the company was awarded as part of the Secure Enclave program, the press release says.
The news comes shortly after President Trump touted the deal in a White House press conference with reporters. “I said, ‘I think you should pay us 10 percent of your company.’ And they said yes—that’s about $10 billion,” Trump said. “And I think it’s a
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