US Government's Intent to Acquire Stake in Intel amidst Funding Initiatives
The US government seeks a 10% equity stake in Intel as part of funding from the CHIPS Act, marking a significant shift in public-private financial relationships.
The US government aims to secure a 10% equity stake in Intel as a condition for funding through the CHIPS Act, a move that shifts the paradigm of how public money interacts with private corporations. During a recent CNBC interview, Commerce Secretary Howard Lutnick remarked:
“We should get an equity stake for our money, so we’ll deliver the money, which was already committed under the Biden administration. We’ll get equity in return for it.”
“Deberíamos obtener una participación en el capital por nuestro dinero, así que entregaremos el dinero, que ya había sido comprometido bajo la administración de Biden. Obtendremos capital a cambio de ello.”
This pivot aims to ensure taxpayers receive tangible benefits from substantial financial engagements with major corporations like Intel. This strategic shift intends to address concerns regarding public funds being simply bestowed upon major entities without reciprocal returns.
Additionally, Lutnick criticized previous administrations for giving away funds without securing equity, advocating for a more accountable approach to public investment in corporate infrastructure.
