US President Donald Trump has announced an agreement with Intel under which the government will acquire a 10 percent stake in the chipmaker, which greeted the news with a stock market surge of up to 6 percent.
"I think it's a great deal for them," Trump emphasized, revealing the results of negotiations that reportedly took place in recent days during an Oval Office appearance. "It's good to have the United States as a partner," he said, even paraphrasing conversations with company executives.
The president hopes this agreement will serve to revitalize a company that, in his own words, "has fallen behind" other competitors in the sector.
Trump, who earlier this month called for the resignation of Intel CEO Lip-Bu Tan, has not provided further details, but the US government had already acknowledged that it was exploring ways to partially or fully convert the subsidies granted to Intel under former President Joe Biden's CHIPS and Science Act into equity.
Intel had received $2.2 billion ( €1.886 billion ) as of January, although it has been allocated a total of $10.9 billion (€9.346 billion), according to Bloomberg.
