Aug. 22 (UPI) -- The United States government will own a 10% share of common stock in U.S. chipmaker Intel in exchange for $11 billion in already-promised federal funding.
President Donald Trump and Intel officials announced they reached an agreement on the federal stake in the California tech firm on Friday.
"It is my great honor to report that the United States of America now fully owns and controls 10% of Intel," Trump said Friday in a Truth Social post.
He called Intel a "great American company that has an even more incredible future" and said the nation paid nothing to obtain Intel common shares valued at about $11 billion.
Related
