The deal has made the US coffers some good, as the US government has made over $30 billion in recent months from its investments in Intel. It came after Trump supported the chipmaker, which was dealing with increasing difficulties.
The President declared in August of last year that Intel had consented to give the US government a 10% share. The government bought 433.3 million shares, each worth $20.47, with an investment of $8.9 billion.
According to Intel, $5.7 billion of this came from funds made possible by the CHIPS and Science Act, with the remaining $3.2 billion coming from a different program designed to boost safe chip manufacturing.
Beyond its backing of Intel, the Trump administration has launched more than a dozen programs to boost critical industries, such as nuclear power, steelmaking, and rare earths, according to Bloomberg. Additionally, the President is evaluating Spirit Airlines’ possible rescue, which could lead to the US government acquiring up to 90% of the airline when it files for bankruptcy.
Also Read: Intel investment brought US $30 billion in 90 days, says US President Donald Trump
(Edited by : Juviraj Anchil)
