U.S. government takes 10% stake in Intel, as Trump expands control over private sector

Commerce Secretary Howard Lutnick said on Friday that the U.S. government has taken a 10% stake in embattle chipmaker Intel, the Trump administration’s latest effort to exert control over corporate America.

Intel shares rose about 6% during trading on Friday. They were flat in extended trading.

Intel, the only American company capable of making advanced chips on U.S. soil, said in a press release that the government made an $8.9 billion investment in Intel common stock, purchasing 433.3 million shares at a price of $20.47 per share, giving it a 10% stake in the company. Intel noted that the price the government paid was a discount to the current market price.

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