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US in talks over 10% Intel stake, White House confirms
White House Press Secretary Karoline Leavitt spoke to reporters at the White House
The White House confirmed on Tuesday that the Trump administration is working on a deal that could see the US government taking a 10% stake in chip giant Intel.
"The president wants to put America's needs first, both from a national security and economic perspective," White House press secretary Karoline Leavitt told reporters.
The potential deal could involve swapping government grants for Intel shares, according to US Commerce Secretary Howard Lutnick.
The move could help Intel as it struggles to compete with rivals like Nvidia, Samsung and TSMC, particularly in the booming artificial intelligence (AI) chip market.
