The White House on Tuesday said it was “ironing out the details” of a deal that would entail the US government taking a 10 per cent stake in struggling US chipmaker Intel.
Karoline Leavitt, the White House press secretary, on Tuesday said Howard Lutnick, US commerce secretary, was thrashing out the terms of the unusual arrangement, days after reports of the discussions caused a rally in Intel’s share price.
“As for this 10 per cent government stake deal, the Department of Commerce continues to work on it,” Leavitt said. “I know secretary Lutnick is working on it and ironing out the details, but the president wants to put America’s needs first, both from a national security and economic perspective.”
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