Nvidia And Intel Lead Tech Stock Drop As White House Reportedly Seeks Equity For CHIPS Grants

ToplineA broader decline for tech stocks was headlined by Nvidia, Intel and Palantir during intraday trading Wednesday, following a report the Trump administration may seek equity in firms receiving federal grants under the Biden-era CHIPS Act. Lutnick said the government want to acquire an equity stake in Intel in exchange for grants earmarked under the CHIPS Act.NurPhoto via Getty ImagesKey FactsCommerce Secretary Howard Lutnick is considering a plan in which the U.S. will gain equity stakes in chipmakers ...