Trump turns $11.1 billion in US government funds into a 10 percent stake in downtrodden Intel

WASHINGTON: President Donald Trump on Friday announced the US government has secured a 10 percent stake in struggling Silicon Valley pioneer Intel in a deal that was completed just a couple weeks after he was depicting the company’s CEO as a conflicted leader unfit for the job. “The United States of America now fully owns and controls 10 percent of INTEL, a Great American Company that has an even more incredible future,” Trump wrote in a post. The US government is getting the stake through the conversion of $11.1 billion in previously issued funds and pledges.

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