The US government is reportedly in talks to acquire a stake in Intel to boost the company’s domestic manufacturing capabilities, Bloomberg reports. Details on the potential deal’s size or value have not been disclosed, and sources say discussions are still in the early stages.
The talks come shortly after President Donald Trump called for CEO Lip-Bu Tan’s resignation over China ties, before later meeting with him and expressing support. In a statement to Bloomberg, Intel reaffirmed its commitment to supporting the administration’s efforts to strengthen US technology and manufacturing but declined to comment on “rumors or speculation.”
Intel announced plans in 2022 to build a semiconductor facility in Ohio, but the project has since been delayed. Bloomberg adds that a government stake could help fund the development. Recent reports have revealed that Intel’s shares rose more than 7% following the report.
Whether the US government will proceed with the investment remains unclear. It is also uncertain if Tan will retain his position in the company, as the outcome of his meeting with Trump earlier this week has not been disclosed.
