Intel announces agreement with Trump Administration for US govt to take a 9.9% stake (24.80 +1.30)
- Co announces agreement with the Trump Administration. The US government will make an $8.9 bln investment in Intel common stock. The government's equity stake will be funded by the remaining $5.7 bln in grants previously awarded, but not yet paid, to Intel under the U.S. CHIPS and Science Act and $3.2 bln awarded to the company as part of the Secure Enclave program.
- Intel will continue to deliver on its Secure Enclave obligations and reaffirmed its commitment to delivering trusted and secure semiconductors to the US Dept of Defense.
- The $8.9 bln investment is in addition to the $2.2 bln in CHIPS grants Intel has received to date, making for a total investment of $11.1 bln.
- The government agrees to purchase 433.3 mln primary shares of Intel common stock at a price of $20.47 per share, equivalent to a 9.9% stake in the company.