President Donald Trump met with Intel Corp. Chief Executive Officer Lip-Bu Tan at the White House to finalize a deal giving the US government a nearly 10% equity stake in the beleaguered chipmaker. Under the agreement unveiled Friday, the US will receive 433,323,000 shares of common stock — representing 9.9% of the fully diluted common shares in Intel — with the government pledging to release nearly $8.87 billion in funding under the Chips and Science Act, people familiar with the terms said, speaking on condition of anonymity to outline the deal before it was formally unveiled. Bloomberg News Economic Statecraft Reporter Joe Deaux joins Bloomberg Businessweek Daily to discuss. (Source: Bloomberg)
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US Takes Nearly 10% Stake in Intel, Clinching Unorthodox Deal
