U.S. Secretary of Commerce Howard Lutnick announced on Friday that the federal government will acquire a 10% stake in Intel. This decision is described as a significant step toward enhancing U.S. leadership in the semiconductor industry, with implications for economic growth and technological advancement.
In a post on X, Lutnick emphasized the importance of this agreement and shared a photo with Intel CEO Lip-Bu Tan. Following the announcement, Intel’s shares increased by over 5% in after-hours trading, reflecting investor optimism.
President Donald Trump also commented on the deal earlier on Friday during an address in the Oval Office, referring to it as beneficial. The BBC has reached out to Intel for confirmation regarding the agreement with the White House.
The move comes amid broader discussions about the semiconductor industry and its role in national security and economic stability.
Source: https://www.bbc.com/news/articles/cvg3zpdl3xdo?at_medium=RSS&at_campaign=rss