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Bessent says the US wouldn't use a rumored stake in Intel 'to drum up business'
Business Insiderยท 2025-08-19 15:59
Group 1 - The US government is considering acquiring a 10% equity stake in Intel, potentially making taxpayers the largest shareholders, but there is no pressure on companies to do business with Intel [1] - Intel is set to receive approximately $10.9 billion in grants under the CHIPS Act, and the Trump administration is advocating for an equity stake in return for these funds [3] - Commerce Secretary Howard Lutnick emphasized that any potential stake would not include voting rights, and the administration seeks a return for the government grants provided to Intel [2] Group 2 - The Trump administration is critical of the previous approach of providing funds without conditions, arguing that taxpayers should benefit from government investments in companies like Intel [8] - There is a national security concern regarding the reliance on Taiwan for advanced chip production, with calls for increased domestic semiconductor manufacturing [7] - The administration's stance reflects a broader strategy to ensure that American taxpayers receive value for their financial support to major companies [3][8]