US Government Confirms Bid for 10% Intel Stake, Converts CHIPS Act Funds to Equity
US Government Confirms Bid for 10% Intel Stake, Converts CHIPS Act Funds to Equity SAN FRANCISCO – In an extraordinary move, the U.S. government is actively pursuing a significant 10% ownership stake in Silicon Valley giant Intel. U.S. Commerce Secretary Howard Lutnick confirmed the ambitious plan on Tuesday, revealing that federal grants previously allocated to Intel under the CHIPS and Science Act will be converted into equity, making the government one of the company’s largest shareholders. This development follows closely…