Intel, the largest chipmaker, agrees to sell 10% of its shares to the U.S. Government

President Donald Trump announced Friday that tech giant Intel agreed to give the U.S. government a 10% stake in the company. "It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future. I negotiated this Deal with Lip-Bu Tan, the Highly Respected Chief Executive Officer of the Company," Trump wrote on his Truth Social account shortly after telling reporters.

Similarly, the Republican leader detailed on his social network that "The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation. MAKE AMERICA GREAT AGAIN! Thank you for your attention to this matter."

"We cannot rely on Taiwan."

Commerce Secretary Howard Lutnick commented Tuesday that the Trump Administration was evaluating taking a stake in Intel through the use of previously appropriated funds. Lutnick suggested that part of the reason the White House was so interested in acquiring a significant stake in the U.S. chipmaker was the possibility thatsuch a move could eventually facilitate the relocation of much of its chip production to the country.

"We cannot rely on Taiwan, which is 9,500 miles away from us and only 80 miles from China. So, you can’t have 99 percent of leading-edge chips made in Taiwan. We want to make them here. One of those pieces is it would be lovely to have Intel be capable of making a U.S. node or a U.S. transistor, driving that in America," Lutnick commented during a interview on CNBC, in which he added that Trump strongly believes that "America should get the benefit of the bargain" with those funds.