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.

"This is a horrible precedent. This is socialism. All of you people were freaked out about Mamdani in New York City"

WASHINGTON] Commerce Secretary Howard Lutnick confirmed discussions between the US and Intel for the government to take a stake in the chipmaker, casting the plan as a bid to convert Chips and Science Act grants into equity.

Beijing’s move to restrict sales of Nvidia’s China-specific artificial intelligence processor was prompted by remarks from US commerce secretary Howard Lutnick about chip exports that officials found “insulting”. A group of Chinese regulators have ...

Commerce Secretary Howard Lutnick confirmed discussions between the US and Intel Corp. for the government to take a stake in the chipmaker, casting the plan as a bid to convert Chips and Science