Intel (INTC.US) is in talks with the U.S. government over a potential deal that would convert part or all of the $10.9 billion CHIPS Act grant into a 10% equity stake. The package could be valued at around $10 billion, which would make the U.S. government one of Intel’s largest shareholders. The initiative follows a recent meeting between President Donald Trump and Intel CEO Lip-Bu Tan, held amid controversy over Tan’s prior ties to Chinese companies. Intel shares gained more than 8% on August 14, but are down 4.70% today as uncertainty around the transaction grows.
The potential investment is seen as a lifeline for Intel’s struggling business and its delayed Ohio mega-fab project, which was intended to become the world’s largest chip manufacturing hub. While Intel had already secured $8 billion in grants for various U.S. plants under former CEO Pat Gelsinger, current CEO Tan has adopted a more cautious approach, slowing construction and tying factory expansion to actual demand.
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