Shares in Intel surged 7.4% following reports of potential investment by the Trump administration to assist in developing its factory in Ohio. The investment aims to improve Intel's financial situation amid job cuts. Talks originated from a meeting between President Trump and Intel's CEO, Lip-Bu Tan, despite past tensions over Tan's alleged ties to China. A White House spokesperson advised that speculation should be treated cautiously until official announcements. This potential investment indicates a shift in the administration’s approach to private industry, especially regarding tariffs on imports.
Shares in Intel have jumped 7.4% after it was reported that the Trump administration is considering taking a stake in the struggling US chipmaker.
The potential investment would be used to develop Intel's factory hub in Ohio and help shore up the chipmaker's finances amid job cuts.
The White House spokesperson Kush Desai remarked that discussion about hypothetical deals should be regarded as speculation unless officially announced by the administration.
A stake in Intel would mark the Trump administration's latest attempt to intervene in key private industry, as Trump has threatened tariffs on imported semiconductors.
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