Struggling Intel gets $2 billion investment from SoftBank
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President Donald Trump on Aug. 7 called for Intel CEO Lip Bu Tan to resign, accusing him of being “highly conflicted” over reported investments in Chinese semiconductor firms. The remarks, expressed via a post on his Truth Social network,
The Trump administration is said to discuss taking a 10% stake in American chipmaker Intel, Bloomberg News reported on Monday, citing a White House official and other people familiar with the matter.
While Grove's focused boldness worked, Tan's way forward must be more nuanced, balancing boldness with humility while resisting the urge to “fix” everything at once.
Bloomberg reports that the U.S. government may take a 10% stake in Intel. The government may convert its grants to the semiconductor company into an ownership interest.
The move is part of SoftBank's investing initiatives in the US, which also includes commitments towards AI computing. Intel, which has lagged behind in the chip race after being the erstwhile market leader,
The White House is considering taking a 10% stake in chipmaker Intel per reports as talks with the company and Trump's team advance.
The latest developments in the ongoing soap opera that is Intel sees the federal government considering purchasing a stake in the company in a bid to speed up completion of its delayed advanced fabrication facilities, while yet another executive is casting aspersions on CEO Lip-Bu Tan.
Intel shares are trading marginally lower Monday. The stock is digesting significant gains fueled by reports that the Trump administration is exploring a direct financial stake.