White House economic adviser Kevin Hassett says that the US could take stakes in other companies within the chip and AI industries.
The United States government’s 10 percent stake in Intel could harm international sales for the semiconductor chip giant.
The company said in a securities filing on Monday that the new agreement could limit its ability to secure future government grants as White House economic adviser Kevin Hassett said that the US could take an equity stake in other companies in the artificial intelligence (AI) and chip industries. That could include Advanced Micro Devices or Taiwan Semiconductor Manufacturing.
Sales outside the US accounted for 76 percent of Intel’s revenue for the fiscal year that ended in December 2024. Though 29 percent of that came from China, the company is pressing on with the deal.
“I think this is a very, very special circumstance because of the massive amount of CHIPS Act spending that was coming Intel’s way,” Hassett told CNBC in an interview on Monday.
