Howard Lutnick: Intel CHIPS Act Deal Gives US Government "Equity" via Profit-Sharing | Intel's $8.5B Grant Terms Explained
Howard Lutnick: Intel CHIPS Act Deal Gives US Government "Equity" via Profit-Sharing | Intel's $8.5B Grant Terms Explained Key Takeaways Commerce Secretary Howard Lutnick confirms the US government wants equity stake in Intel for CHIPS Act funding The deal would convert grants into equity without giving government governance or voting rights Intel previously secured $7.86 billion in finalized CHIPS Act funding (reduced from initial $8.5 billion proposal) Government could potentially receive 10% equity stake in Intel through this arrangement Lutnick describes original CHIPS Act as "giveaway to rich companies" and seeks better taxpayer value The equity conversion represents a shift from Biden administration's grant-based approach Intel faces financial struggles, making government funding crucial for US semiconductor independence Lutnick Drops the Bombshell on Live TV Commerce Secretary Howard Lutnick told CNBC Tuesday morning that Intel must give the U.S...