Trump: Federal government will 10% stake in Intel

President Donald Trump said Friday that the federal government will take a 10% stake in Intel, as he prepares to meet with CEO Lip-Bu Tan in the afternoon.

“They’ve agreed to do it and I think it’s a great deal for them,” Trump said Friday at the White House, CNBC reported.

A White House official told CNBC that there will be “ongoing discussions” with Intel, as nothing has been decided yet, and Tan hasn't explicitly agreed to a deal. 

Intel declined to provide comment to the news outlet.

Commerce Secretary Howard Lutnick said earlier this week that the government was seeking a nonvoting, equity stake in Intel in exchange for CHIPS Act funds.

“We should get an equity stake for our money,” Lutnick said. “So we’ll deliver the money, which was already committed under the Biden administration. We’ll get equity in return for it.”

Intel has spent billions of dollars to build a series of chip factories in Ohio, which is now scheduled to start operations in 2030.

Last fall, Intel said that it had finalized a nearly $8 billion grant under the CHIPS and Science Act to fund its factory-building plans. The CHIPS Act was passed in 2022.