"The EU has agreed to open its $20 Trillion market. The second largest in the world behind the great USA," Howard Lutnick said.

U.S. Commerce Secretary Howard Lutnick joins CNBC's 'Squawk on the Street' to discuss the possibility of a government stake in intel, whether a deal would include governance, and much more.

Commerce Secretary Howard Lutnick told CNBC the U.S. government wants a stake in Intel in exchange for CHIPS Act grant money promised under Biden.

U.S. Commerce Secretary Howard Lutnick is looking into the federal government taking equity stakes in computer chip manufacturers that receive CHIPS Act funding to build factories in the country, two sources said.

Commerce Secretary Howard Lutnick on Tuesday confirmed that the government wants Intel to cough up a 10% equity stake in exchange for nearly $8 billion in CHIPS Act funding approved by the Biden administration. Lutnick said the the stake would be a return on its “investment” in the struggling chipmaker.

Commerce Secretary Howard Lutnick suggested that the federal government could receive a stake in struggling Intel in exchange for previously allocated federal funding. Some Republicans are saying it is a “step toward socialism,” while the idea was praised by Bernie Sanders.

U.S. Commerce Secretary Howard Lutnick is looking into the government taking equity stakes in Intel and other chipmakers in exchange for grants under the CHIPS Act, which aims to spur factory-building in the U.

Lutnick just laughed it off, indignantly pointing out that “we were just giving away the money” under the previous terms of the CHIPS Act. But the legality of any equity stake would likely be challenged by both Intel shareholders and competitors in the industry, according to the Times.

During a budget hearing held by the Senate Appropriations Committee several weeks ago, Commerce Secretary Howard Lutnick pretentiously talked down to Senator Gary Peters (D-MI) for asking questions. Instead of answering the questions,