Trump's Intel deal is drawing praise from an unusual place

Core Points - The US government is taking a 9.9% stake in Intel, investing $8.9 billion primarily funded by grants from the CHIPS and Science Act, making it the largest single investor in the company [7] - The deal represents a significant departure from traditional GOP views on free market capitalism, garnering mixed reactions across the political spectrum [2][3] - Progressive figures like Bernie Sanders have expressed cautious support for the investment, advocating for additional policies to ensure taxpayer interests are protected [11][12] Investment Details - The investment of $8.9 billion is aimed at bolstering semiconductor manufacturing in the US, aligning with the goals of the CHIPS and Science Act [7] - The deal was initiated after a meeting between Trump and Intel CEO Lip-Bu Tan, following Trump's call for Tan's resignation due to concerns over his connections to Chinese companies [8] Political Reactions - Some Republicans, including Sen. Rand Paul, criticize the deal as a move towards socialism and government overreach in the market [3] - Progressive lawmakers, while supportive of the stake, emphasize the need for conditions such as labor neutrality agreements and restrictions on stock buybacks to protect American jobs [12][14] Future Implications - Economic advisors to Trump suggest that this could be the first of many similar investments across various industries, indicating a potential shift in government investment strategy [9] - The proposal echoes earlier suggestions from Sanders and Warren regarding government equity stakes in companies benefiting from federal funding [10]