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The Chips Act wasn't about raising revenue, and an equity share wouldn't enhance national security.
United States Representative Tim Moore made a timely stock purchase in Intel (NASDAQ: INTC) just weeks before the government announced it would take a 10% stake in the chipmaker.
The US government will invest nearly $9 billion into Intel Corp. (NASDAQ: INTC) in exchange for a 9.9% equity stake, marking a rare and extraordinary intervention in corporate America. While the move signals Washington's determination to revive domestic chip production, analysts warn the cash injection may not solve Intel's deeper challenges in its foundry business.
The Silicon Valley chipmaker's journey from icon to a government project, with the sale of a 10 percent stake to the Trump administration, underlines how even the mightiest in tech can fall.
U.S. President Donald Trump is injecting nearly $9 billion into Intel in exchange for a 9.9% equity stake. But the money - which the struggling chipmaker was slated to receive anyway under a federal funding act - will not be enough for its contract-chipmaking business to flourish, analysts said.
In the seven months since President Donald Trump's inauguration, Wall Street's major stock indexes have been taken on quite the ride.
Intel (INTC 5.53%) stock is leaping higher in Friday's trading thanks to a pair of bullish catalysts. The semiconductor company's share price gained 5.5% in a day of trading that saw the S&P 500 jump 1.5% and the Nasdaq Composite surge 1.8%.
Intel (INTC) shares surged Friday, as President Trump said the U.S. government struck a deal giving it a 10% stake in the struggling chipmaker.
CNBC's Eamon Javers reports on the U.S. government's 10% stake in Intel.
Intel Corporation is a national security asset, transitioning from PC-focused chipmaker to foundry services under new CEO Lip-Bu Tan. Government's proposed 10% equity stake and SoftBank investment could provide critical capital relief for debt reduction and turnaround efforts. Fed rate cuts offer near-term relief on revolvers and short-term debt, with refinancing benefits possible if 10-year yields decline.