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Intel
shares rose 2% in extended trading on Thursday after President Donald Trump posted a flattering message on social media about the chipmaker and its CEO, and championed the government’s investment in the company.
“I just finished a great meeting with the very successful Intel CEO, Lip-Bu Tan,” Trump wrote on Truth Social.
In August, the U.S. government took a 10% stake in Intel through an $8.9 billion investment. That came from CHIPS Act grants that hadn’t been paid and government awards for semiconductor manufacturing.
