Intel, Trump
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Intel, Equity Stake
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2hon MSN
Nvidia And Intel Lead Tech Stock Drop As White House Reportedly Seeks Equity For CHIPS Grants
Commerce Secretary Howard Lutnick told CNBC the U.S. government wants a stake in Intel in exchange for CHIPS Act grant money promised under Biden.
Liberal U.S. Senator Bernie Sanders on Wednesday threw his support behind President Donald Trump's plan to convert U.S. grants to chipmakers, including $10.9 billion for Intel, into government stakes in the companies.
Shares in the chip maker rose following news of SoftBank’s planned investment and a possible stake for the U.S. government.
Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.
SoftBank's investment will come via a primary issuance of common stock by Intel, and, based on the U.S. company's market capitalisation at close of trading on Monday, represent an equity stake of just under 2%, an Intel spokesperson said.
Intel is getting a $2 billion investment in common stock from SoftBank, which is betting big on the AI revolution.
After months of turbulence, Intel Corp. bulls are finally being rewarded for their patience. But the stock’s sudden rebound comes with a worrying side effect: a valuation so high its most recent precedent is from the dot-com era more than two decades ago.
Stock futures fell Wednesday as markets awaited earnings from big-name retailers and the release of minutes from the latest Federal Reserve meeting.These stocks were poised to make moves Wednesday:Palantir Technologies fell 0.
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