Insider: Trump Ready to Announce Intel Equity Deal on Friday
Prefer us on GoogleBlockBeats News, August 23rd – Sources familiar with the matter said that the Trump administration and Intel (INTC.O) are prepared to announce details of an agreement on Friday, which would see the U.S. government holding a stake in the chipmaker. The specific details of this arrangement are not yet clear. The focus of the negotiations is to convert appropriations under the "Chips for America Act" into the government holding approximately 10% of the company's stock. This transaction would be part of efforts to boost the struggling company, with U.S. President Trump viewing the company as crucial to national security.
Intel (INTC.O) saw its stock price rise by 5.7%, reaching an intraday high. (Golden Finance)
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