US to take 10% equity stake in Intel, in Trump’s latest corporate move

• Trump’s intervention in corporate America raises concerns
• Intel’s $10 billion stake linked to CHIPS Act grants
• Federal backing aims to revive Intel’s foundry business

President Donald Trump said on Friday the U.S. would take a 10% stake in Intel (INTC.O), opens new tab under a deal with the struggling chipmaker that converts government grants into an equity share, the latest extraordinary intervention by the White House in corporate America.

The deal puts Trump on better terms with Intel CEO Lip-Bu Tan, after the president recently said the CEO should step down due to conflicts of interest. It will ensure that the chipmaker will receive about $10 billion in funds for building or expanding factories in the U.S.