Trump is on top over everything.  US takes 10% stake in Intel, Trump and Lutnick announce after share price surges 5.5%  The Trump administration announced that it had taken a 10% stake in Intel, in one of the biggest government interventions in private enterprise since the Great Recession 

     Shares of the embattled chip maker surged 5.5% on the NASDAQ after Trump teased the purchase in the Oval Office. The official announcement was made by Intel and Commerce Secretary Howard Lutnick after the market closed.   The agreement was reached after Trump met with new Intel CEO Lip-Bu Tan earlier this month, then reversed his Aug.7 call for Tan to “resign immediately” over his alleged investments in businesses with ties to the Chinese military.  

     “He came in. He saw me. We talked for a while. I liked him a lot. I thought he was very good. I thought he was somewhat a victim,” Trump told repo“And I said, ‘I think it would be good having the United States as your partner.’ He agreed, and they’ve agreed to do it. And I think it’s a great deal for them,” the president continued. 

     Trump boasted that Tan “walked in wanting to keep his job, and he ended up giving us $10 billion.” The deal calls for the US to receive 433.3 million shares of non-voting stock priced at $20.47 apiece — a discount from Friday’s closing price of $24.80. That spread means the feds already have a gain of $1.9 billion, on paper.rters in the Oval Office. “And, I said, ‘You know what? I think the United States should be given 10% of Intel.’”  

     The $8.9 billion investment will be paid for by $5.7 billion in funding from the CHIPS and Science Act of 2022 that was approved by the Biden administration but has yet to be paid out, and $3.2 billion awarded to the company last year as part of the Secure Enclave program.  Intel has already received $2.2 bilion in grants from the CHIPS and Science Act, for a total investment of $11.1 billion.