Intel, Trump and U.S. government
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President Donald Trump on Friday announced the U.S. government has secured a 10% stake in struggling Silicon Valley pioneer Intel in a deal completed just a couple weeks after he depicted the company’s CEO as a conflicted leader unfit for the job.
Intel shares were up about 6% on the day, adding to earlier gains after reports that President Trump is set to announce the U.S. government is taking a nearly 10% stake in troubled chipmaker. The investment would cap a two-week frenzy in Washington over the future of the company.