The Trump administration said Friday that it had taken a 10% stake in Intel, President Donald Trump’s latest extraordinary move to exert federal government control over private business.
In a post on X Friday afternoon, Commerce Secretary Howard Lutnick confirmed the arrangement, firming up Trump’s suggestion earlier in the day that a deal was imminent.
“BIG NEWS: The United States of America now owns 10% of Intel, one of our great American technology companies,” Lutnick wrote. “This historic agreement strengthens U.S. leadership in semiconductors, which will both grow our economy and help secure America’s technological edge. Thanks to Intel CEO @LipBuTan1 for striking a deal that’s fair to Intel and fair to the American People.”
No details of the arrangement were immediately available. Trump and other administration officials had suggested the U.S. should receive an ownership stake in exchange for grants Intel had received via the 2022 CHIPS and Science Act passed during President Joe Biden’s administration. Intel is valued at about $108 billion on the stock market.
An Intel spokesperson did not immediately respond to a request for comment.
