Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
SAN FRANCISCO, Aug. 19 (Xinhua) — The Donald Trump administration is considering buying a 10 percent stake in Intel Corp. to shore up the U.S. semiconductor industry and help the chipmaker weather its difficulties, U.S. media reported Monday, citing people familiar with the matter who declined to be named.
They said they had discussed converting $10.86 billion in recent federal grants into a stake in Intel, a deal that would make the U.S. government the corporation's largest shareholder.
It remains unclear whether the idea enjoys broad support within the administration, what the exact size of the stake will be, or whether the government intends to follow through on the plan.
The New York Times and Bloomberg also report, citing people familiar with the matter, that it is unclear whether the Trump administration will pursue similar deals with other companies that received funding under the Chip and Science Act.
White House deputy press secretary Kush Desai declined to comment on the details of the talks, saying no agreement should be considered official unless the government formally announced it.
The Commerce Department, which oversees the Chip and Science Act, declined to comment. Intel has not yet issued a statement.
Industry analysts say the plan, if implemented, would be one of the largest government interventions in a U.S. company since the 2008 financial crisis. –0–
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