Aug. 19 (UPI) -- The Trump administration wants U.S. chipmaker Intel to give the federal government an equity stake to receive $8 billion via the CHIPS and Science Act.
Commerce Secretary Howard Lutnick on Tuesday confirmed President Donald Trump wants Intel to give the federal government a 10% stake in Intel in exchange for money promised to it by the Biden administration upon passage of the CHIPS and Science Act.
"We should get an equity stake for our money," Lutnick said when interviewed by CNBC on Tuesday.
"We'll deliver the money, which was already committed under theBiden administration," Lutnick continued. "We'll get equity in return for it."
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