On Friday, U.S. President Trump met with Intel CEO Pat Gelsinger at the White House, where they sealed a groundbreaking deal. Pursuant to this agreement, the U.S. government will inject $8.9 billion to purchase 433.3 million common shares of Intel, amounting to approximately 9.9% of its fully diluted common stock, nearing the 10% mark. The financing for this acquisition will be sourced from the approved but yet-to-be-disbursed funds from the Chips and Science Act and the "Secure Enclave" project. This unconventional step is aimed at revitalizing the ailing chipmaker.
