Commerce Secretary Howard Lutnick told CNBC the U.S. government wants a stake in Intel in exchange for CHIPS Act grant money promised under Biden.

Micron, TSMC, and more have also been awarded billions in subisidies The US government is considering taking a stake in Intel and other semiconductor companies that benefit from CHIPS Act funding, according to officials from the Trump administration.

Hoping to bolster Intel’s $28 billion project in central Ohio, President Donald Trump’s administration is considering requesting Intel stock in exchange

Lutnick just laughed it off, indignantly pointing out that “we were just giving away the money” under the previous terms of the CHIPS Act. But the legality of any equity stake would likely be challenged by both Intel shareholders and competitors in the industry, according to the Times.

The CHIPS Act primarily focuses on cutting-edge silicon, like those increasingly used for AI. TI’s production will go towards less advanced processors for things like smartphones, appliances and ...

Key Takeaways Commerce Secretary Howard Lutnick said the Trump administration is exploring how the U.S. could receive equity stakes in semiconductor companies with CHIPS Act grants.Such deals could extend to Micron,

The U.S. wants to get 10% of Intel in exchange for the billions of dollars it’s giving it under the CHIPS Act.