US government stake in Intel has jumped 300% to $36 billion
The value of the US government stake in Intel Corp. has increased fourfold to hit a value of about $36 billion after the chipmaker’s financial outlook showed a resurgence in sales.
That’s the equivalent of an almost $27 billion return on paper since Intel and the government announced the investment in August. Chief executive officer Lip-Bu Tan secured the unconventional investment following a charm offensive to win over the White House and repair relations with President Donald Trump, who’d called for Tan’s ouster.
