The Trump administration is considering taking a stake in Intel as a means of boosting the struggling U.S. chipmaker, Commerce Secretary Howard Lutnick said Tuesday. <\/p>\n
Lutnick indicated the money for the stake would come from previously allocated Biden-era funding. Media reports have suggested the government is considering a 10 percent stake using CHIPS and Science Act grants. <\/p>\n
\u201cThe president figures out that we should get, America should get the benefit of the bargain,\u201d he told CNBC\u2019s \u201cSquawk Box.\u201d <\/p>\n
\u201cI mean, that is exactly Donald Trump’s perspective, which is, why are we giving a company worth $100 billion this kind of money?\u201d he continued. \u201cWhat is in it for the American taxpayer? And the answer Donald Trump has is we should get an equity state for our money.\u201d <\/p>\n
\u201cSo we’ll deliver the money which was already committed under the Biden administration,\u201d Lutnick added. \u201cWe’ll get equity in return for it, get a good return for the American taxpayer instead of just giving grants away.\u201d <\/p>\n
The Commerce secretary\u2019s comments come just less than two weeks after<\/a> President Trump called on Intel CEO Lip-Bu Tan to resign. \u00a0<\/p>\n The president accused Tan of being \u201chighly conflicted\u201d following Sen. Tom Cotton\u2019s (R-Ark.) letter to the company, voicing concerns about the CEO\u2019s investments in Chinese companies and his previous role at Cadence Design Systems. <\/p>\n The software firm recently pleaded guilty to violating export controls by selling chip design technology to a Chinese military university during Tan\u2019s tenure. <\/p>\n