US government to acquire nearly 10% stake in Intel as part of President Trump's plan to boost American chip manufacturing

Intel has confirmed widely reported plans that it intends to sell nearly 10 percent of its shares to the U.S. government under a new $8.9 billion agreement with the Trump administration aimed at expanding American semiconductor production. The deal gives the American government a direct equity stake in the struggling iconic chipmaker, and comes as part of President Trump’s much publicized push to strengthen domestic manufacturing. SEE ALSO: Global PC market rises, but Trump tariffs unsettle US demand The U.S. will purchase 433.3 million shares of Intel common stock at $20.47 each, equal to a 9.9 percent ownership position. The… [Continue Reading]