U.S. Commerce Secretary Howard Lutnick said Friday that the federal government will hold a 10% stake in Intel.
“This historic agreement strengthens U.S. leadership in semiconductors, which will enable our economy to grow and help ensure America’s technological advantages,” Lutnick wrote on X.
Stocks based in Santa Clara, California, soared in after-hours trading, up more than 5%.
President Donald Trump revealed the deal in a speech to the Oval Office earlier Friday, calling it “a lot of stuff for them.” The BBC has sought to confirm the agreement with the White House with Intel.
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A wellness enthusiast and certified nutrition advisor, Meera covers everything from healthy living tips to medical breakthroughs. Her articles aim to inform and inspire readers to live better every day.
