Lutnick Says US May Take Intel Stake To Counter China Risk, Highlights Nvidia CEO’s Active Role In Chip Policy
Synopsis
The Commerce Secretary also criticized U.S. subsidies flowing to Taiwan’s TSMC, saying Washington cannot rely on Taiwan to make chips for the country.
Commerce Secretary Howard Lutnick reportedly said Tuesday that President Donald Trump is considering taking a federal equity stake in Intel in exchange for government funding committed under the Biden administration.
“We want Intel to be successful in America,” Lutnick told CNBC in an interview, adding that the stake would be non-voting. He criticized U.S. subsidies flowing to Taiwan’s TSMC (TSM), saying Washington “cannot rely on Taiwan to make our chips.”
Lutnick said Intel could anchor domestic supply as the U.S. handles “Chinese risk,” while noting Nvidia’s CEO “is fantastic” and has been actively pitching Trump on chip policy.
Get updates to this developing story <directly on Stocktwits.<
Read also: Trump Says ‘It’s Possible Putin Doesn’t Want To Make Deal’ – Urges Zelenskyy-Putin Meeting First
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.