President Donald Trump on Friday said that United States government would take a ten percent stake in Intel as part of a deal.
“He walked in wanting to keep his job and he ended up giving us $10 billion for the United States,” Trump said on Friday.
The reported agreement follows a meeting with Intel CEO Lip-Bu Tan and Trump earlier in August that arose after the president demanded the CEO’s resignation over his ties to Chinese firms.
Yahoo reported:
The move follows a $2 billion capital injection from SoftBank Group in what was a major vote of confidence for the troubled U.S. chipmaker in the middle of a turnaround.
Federal backing could give…
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