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

Commerce
New York Post Fews App News Provider
Fews App Post Time há 19h

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.

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