US Commerce Secretary Howard Lutnick and US president Donald Trump. Photo: Reuters
Reuters
US commerce secretary Howard Lutnick is looking into the White House taking equity stakes in Intel and other chipmakers in exchange for grants under the Chips Act, which aims to spur factory-building in the US, two sources said.
As part of a plan to revive US manufacturing – a key part of Donald Trump’s agenda – Mr Lutnick said the US government wants an equity stake in Intel in exchange for cash grants which were approved by the administration of former president Joe Biden.
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