INTEL Corporation on Friday announced an agreement with the Trump Administration under which the US government will make an US$8.9 billion investment in Intel common stock.
The government agrees to purchase 433.3 million primary shares of Intel common stock at a price of $20.47 per share, equivalent to a 9.9 per cent stake in the company
The government’s equity stake will be funded by the remaining $5.7 billion in grants previously awarded, but not yet paid, to Intel under the US CHIPS and Science Act, and $3.2 billion awarded to the company as part of the Secure Enclave programme.
The $8.9 billion investment is in addition to the $2.2 billion in CHIPS grants Intel has received to date, according to the company.
“As the only semiconductor company that does leading-edge logic R&D and manufacturing in the US, Intel is deeply committed to ensuring the world’s most advanced technologies are American made,” said Lip-Bu Tan, CEO of Intel, adding that Intel looks forward to working to “advance US technology and manufacturing leadership.”
Xinhua
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