On the 19th, White House Press Secretary Levitt announced that the U.S. Department of Commerce is progressing with a plan to acquire a 10% stake in Intel, with Commerce Secretary Lutnik overseeing the pertinent details. In an interview conducted on the same day, Secretary Lutnik emphasized that Intel would need to exchange equity in return for federal subsidies. Prior reports have suggested that the Trump administration is contemplating this acquisition plan, aiming to convert some or all of the subsidies approved for Intel under the CHIPS and Science Act into equity.
