The share price of semiconductor producer Intel (INTC.US) rose following reports that the Trump administration is in talks about the U.S. taking a stake in the company. Washington is reportedly discussing the possibility of the government acquiring a stake in Intel to support the company’s efforts to expand its manufacturing capacity in the United States. Intel is well known for its strong position in the U.S. market and its domestically concentrated supply chains.
The agreement would aim to support Intel’s factory hub in Ohio, according to sources citing the confidential nature of the talks. The company had previously announced plans to make this location the largest semiconductor manufacturing facility in the world, but the project has faced repeated delays. The size of the potential stake remains unknown, but investors have taken the news positively.
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Intel’s stock gained over 7% yesterday, breaking above the 200-day EMA (red line) and potentially reversing its trend. In after-hours trading today, shares are up another nearly 5.5%.
Source: xStation5
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