Chip stocks fall with Nvidia after data center rev disappointment
Investing.com -- President Donald Trump praised the recent deal giving the U.S. government a stake in Intel, claiming the arrangement cost nothing while delivering substantial value to the country.
"I PAID ZERO FOR INTEL, IT IS WORTH APPROXIMATELY 11 BILLION DOLLARS. All goes to the USA," Trump wrote on social media Monday. "Why are ’stupid’ people unhappy with that? I will make deals like that for our Country all day long."
The deal, finalized Friday, gives the U.S. government a 9.9% stake in Intel Corp ., representing 433.3 million shares of common stock. The $8.9 billion investment is being funded through grants from the U.S. Chips and Science Act and Secure Enclave program that had been previously approved but not yet disbursed.
Combined with $2.2 billion in Chips Act money that Intel already received, the total investment amounts to $11.1 billion. Under the agreement, the government will be a passive owner without a board seat or other governance rights.
Trump indicated he would continue to support companies making similar arrangements with the United States, stating, "I will also help those companies that make such lucrative deals with the United States States. I love seeing their stock price go up, making the USA RICHER, AND RICHER."
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