Trump administration is considering buying out Intel’s stake to support the construction of the company’s manufacturing hub

Trump administration is considering buying out Intel’s stake to support the construction of the company’s manufacturing hub

The administration of US President Donald Trump is in talks with Intel to acquire a stake in the company.

Bloomberg reports this with reference to its own sources.

According to their information, such a purchase could support the construction of a microchip manufacturing hub in Ohio, which Intel once planned to make the largest in the world. At the time, the implementation of this project was repeatedly postponed.

Currently, the size of the stake that the US government may acquire is unknown.

According to Bloomberg, the idea of the investment came up after Trump met with Intel CEO Lip-Bu Tan. Despite the fact that the US president had previously publicly called for Tan’s resignation due to possible ties with China, the CEO may keep his position if the government decides to buy the stake.

However, the White House has said that discussions of hypothetical deals until they are officially announced are “speculation.” Intel itself refused to comment on the negotiations, but emphasized that it supports Trump’s efforts to strengthen American technological and manufacturing leadership.

Journalists note that this is not the first time the Trump administration has directly intervened in key industries. Earlier, it received a “golden share” in United States Steel and bought $400 million of preferred shares in MP Materials, a rare earths producer. This purchase made the Pentagon the company’s largest shareholder.

Read more: Intel sold majority stake in chipmaker Altera for $4.46B

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