U.S. Secretary of Commerce Gina Raimondo revealed that the government is in negotiations with Intel, aiming to convert subsidies under the CHIPS and Science Act into equity shares. Treasury Secretary Bessent clarified that this investment in Intel is designed to support and stabilize the company's development. Raimondo underscored that the government's equity stake will not confer voting rights or board representation; rather, it is a mechanism to transform subsidies into equity, ultimately benefiting taxpayers through returns.
