US to Take 10% Equity Stake in Intel
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(Reuters) -Intel is in talks with other large investors to receive an equity infusion at a discounted price, CNBC reported on Wednesday, just days after the chipmaker got a $2 billion capital injection from SoftBank Group.
US President Donald Trump said the US would take a 10% stake in Intel under a deal with the struggling chipmaker and is planning more such moves, the latest extraordinary intervention by the White House in corporate America.
Aug 19 (Reuters) - Intel (INTC.O) is getting a $2 billion capital injection from SoftBank Group (9984.T) in a major vote of confidence for the troubled U.S. chipmaker in the middle of a turnaround.
Intel stock was down 3.9% after Bloomberg reported that the Trump administration could convert Chips Act grants into a 10% equity stake in Intel.