Trump Administration Mulls 10% Stake in Intel
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Intel shares are trading marginally lower Monday. The stock is digesting significant gains fueled by reports that the Trump administration is exploring a direct financial stake.
Media reports said last week that the U.S. government may buy a stake in Intel, after a meeting between CEO Lip-Bu Tan and President Donald Trump.
Ohio U.S. Sen. Bernie Moreno has joined President Donald Trump in asking for tech giant Intel’s CEO to resign due to his reported ties to the Chinese government. Moreno has also asked for a fraud investigation into Intel’s continued delays on the state’s long-awaited semiconductor manufacturing plant.
Two lawmakers are calling for Intel to more frequently update the public on the status of its stalled Ohio One chip plants.
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tom's Hardware on MSNTrump administration reportedly mulls investing in Intel to bolster national security — direct cash assistance would speed Ohio fab build out
The U.S. administration is considering buying a stake in Intel to accelerate construction of its long-delayed $100 billion Ohio fab complex that is crucial for the company's revival.
Ohio's Intel project has been met with delays, with Ohio's senators and Tom Cotton also raising concerns on fraud and national security.
Gov. Mike DeWine says Intel is still committed to Ohio even as it announced it will "further slow" the pace of construction at its future Ohio microchip factories.
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Why Intel Stock Popped on Friday
According to the news agency, Intel, which burned through more than $15.5 billion in negative free cash flow last year, has had to delay construction of a new semiconductor facility in Ohio due to lack of cash.