Trump Team Talks of Taking Stake in Tech Titan Intel
The United States government is reportedly in discussions about acquiring a direct stake in semiconductor giant Intel. According to a Bloomberg report, the plan is aimed at supporting the company’s manufacturing operations in the U.S., particularly the long-delayed expansion of its Ohio chip plant. TechCrunch reported the development.
The issue emerged just a week after President Donald Trump called for the resignation of Intel’s Chief Executive Officer, Lip-Bu Tan. Pressure mounted following questions raised by Republican Senator Tom Cotton over Tan’s connections with China.
On August 11, Tan met with the administration to discuss possible avenues of cooperation. Bloomberg reported that this meeting sparked talks about the government taking a share in the company.
While Intel has not directly commented on the matter, the company said in a statement that it is “committed to supporting the Trump administration’s efforts to strengthen U.S. leadership in technology and manufacturing.”
