On Tuesday’s broadcast of the Fox Business Network’s “Kudlow,” host Larry Kudlow, former Trump Economic Adviser Stephen Moore, and Rep. and gubernatorial candidate Byron Donalds (R-FL) criticized the Trump administration pursuing a government stake in Intel, with Kudlow saying that this, along with taking money from NVIDIA and AMD “seems like a lot of heavy-handed government stuff,” and Moore saying, “We don’t want the government owning American companies, that is called socialism.”
Kudlow said, “I’m trying to figure out why the U.S. government should be buying a piece of Intel semiconductor company that has been sliding downhill for a long time. … [T]hey’re trying to take the loans and grants and turn it into stock warrants or options. But why don’t we just take the loans and grants and rescind them, just get rid of them? What’s the government — we’re going to buy pieces of companies? … I’m very uncomfortable with this, Steve Moore.”
After Moore remarked, “They’re going to turn Intel into Amtrak.” Kudlow responded, “Yeah.” Moore further stated, “I hate this idea. … We don’t want the government owning American companies, that is called socialism.”
Kudlow added that he finds the idea “very troubling.” And added, “Also, they took 15% of the profits — or revenues of NVIDIA and AMD. I understand why, but I don’t really know that I like it, just because they’re selling in China, they can get 15%? It just seems like a lot of heavy-handed government stuff, Byron. I thought we preferred free markets.”
Donalds said that while getting back money spent under the CHIPS Act isn’t doable, “I’m with Steve on this one. I’m not really feeling this whole conversion of grants to warrants or whatever is going on over there.”
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