US government announces 10% stake in chipmaker Intel

US Secretary of Commerce Howard Lutnick stated on Friday that the federal authorities will take a ten% stake in Intel.”This historic settlement strengthens US management in semiconductors, which can each develop our economic system and assist safe America’s technological edge,” Lutnick wrote on X in a publish accompanied by a photograph of himself with Intel CEO Lip-Bu Tan.Shares of the Santa Clara, California-based chipmaker soared in after-hours buying and selling, rising greater than 5%.President Donald Trump revealed the deal earlier on Friday throughout remarks within the Oval Workplace, calling it a “nice deal for them”. The BBC has reached out to Intel searching for affirmation of the settlement with the White Home.