Trump's administration may look to buy a stake in Intel
Intel has had some recent struggles in delivering results for its shareholders, but the company could soon be answering to an additional boss. The current administration is reportedly in talks to have the US government acquire a stake in the chipmaker. No specifics about the size or value of the potential share in the company have been disclosed, but the focus appears to be on increasing Intel's manufacturing footprint in the US. Bloomberg first reported the news, but at least one source cautioned the publication that the situation is still in flux.
Intel initially shared plans to construct a semiconductor facility in Ohio in 2022 while Pat Gelsinger was still at the helm of the company. Since then, the project has faced delays, and at its latest quarterly earnings report, execs said Intel would "slow the pace" on the Ohio construction, as well as scrapping other international building plans and making workforce cuts.
The potential for government ownership of Intel is the latest swing of the administration's attitude toward the company. A few days after calling for his resignation over connections to China, President Donald Trump met with CEO Lip-Bu Tan and seemed to now hold a more positive outlook on the company leader.
A representative from Intel told Bloomberg in a statement that the company is "deeply committed to supporting President Trump’s efforts to strengthen US technology and manufacturing leadership. We look forward to continuing our work with the Trump administration to advance these shared priorities, but we are not going to comment on rumors or speculation."This article originally appeared on Engadget at https://www.engadget.com/big-tech/trumps-administration-may-look-to-buy-a-stake-in-intel-213234862.html?src=rss