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On August 23, the American chipmaker Intel announced a share purchase agreement with the US federal government. Pursuant to the agreement, the government will acquire 433.3 million shares of Intel's common stock at a price of $20.47 per share, amounting to a total investment of $8.9 billion, which equates to a 9.9% stake in the company. This strategic move is intended to bolster the US semiconductor manufacturing industry. Earlier in July, Intel had announced layoffs and the cancellation of certain overseas projects, citing poor management. Notably, the federal government intends to convert approximately $10.9 billion in federal subsidies, originally granted to Intel under the CHIPS and Science Act, into equity. Bloomberg remarked that this represents another instance of direct intervention by the US government in key industries.
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