Intel jumps on report the US is considering taking a stake
Intel shares shot higher in late day trading after Bloomberg reported that the White House is in talks to take a stake in the once iconic American chipmaker.
Intel declined to comment on the report and the White House did not immediately respond to a request for comment.
If the government were to take a stake in Intel, it would be the latest in a series of remarkable Trump administration interventions into the US private sector that have gathered pace in recent weeks.
Last week, the Financial Times reported that chipmakers Advanced Micro Devices and Nvidia had secured permission to export certain chips to China — previously deemed too great of a national security risk to export to the People’s Republic — in exchange for giving the US government a 15% cut of revenues.
Last month, the US government announced plans to take a large stake in small-cap MP Materials, the operator of the only rare earths mine in the US.
In June, as part of a deal to lift government national security objections to Nippon Steel’s acquisition of US Steel, the White House extracted a so-called “golden share” that would give Trump, while president, veto power over key business decisions at the steelmaker.
If the government were to take a stake in Intel, it would be the latest in a series of remarkable Trump administration interventions into the US private sector that have gathered pace in recent weeks.
Last week, the Financial Times reported that chipmakers Advanced Micro Devices and Nvidia had secured permission to export certain chips to China — previously deemed too great of a national security risk to export to the People’s Republic — in exchange for giving the US government a 15% cut of revenues.
Last month, the US government announced plans to take a large stake in small-cap MP Materials, the operator of the only rare earths mine in the US.
In June, as part of a deal to lift government national security objections to Nippon Steel’s acquisition of US Steel, the White House extracted a so-called “golden share” that would give Trump, while president, veto power over key business decisions at the steelmaker.
