Commerce Secretary Lutnick says Intel needs to give government stake for CHIPS funding

Source: New York Post

Commerce Secretary Howard Lutnick on Tuesday confirmed that the government wants Intel to cough up a 10% equity stake in exchange for nearly $8 billion in CHIPS Act funding approved by the Biden administration. Lutnick said the the stake would be a return on its “investment” in the struggling chipmaker. “We should get an equity stake for our money,” Lutnick told CNBC’s “Squawk on the Street.