US Commerce Secretary Howard Lutnik said on Friday that the federal government would take a 10% stake in Intel.
“This historic agreement strengthens the American leadership in semiconductors, which will increase our economy and help secure the US technical growth,” Lutnik wrote in a post on X with a picture of himself with Intel’s CEO Lip-Bo Tan.
Santa Clara’s shares, California -based chipmaker increased to later trading, which increased by more than 5%.
President Donald Trump revealed the deal earlier on Friday during a comment at the Oval Office, calling it a “a great deal for him”. The BBC has reached Intel, demanding confirmation of the agreement with the White House.
