US examines equity stake in chip makers for CHIPS Act cash grants
US Commerce Secretary Howard Lutnick is looking into the government taking equity stakes in Intel as well as other chip companies in exchange for grants under the CHIPS Act that was meant to spur factory-building around the country, two sources said.
As part of a plan to revive US manufacturing – a key Trump agenda – Lutnick said earlier on Tuesday the US government wants an equity stake in Intel in exchange for cash grants approved by the administration of former President Joe Biden.
