Intel In Talks With Trump Administration For US To Take Stake: Report

Bloomberg reports that it’s not known how many shares the U.S. government could end up taking in the semiconductor giant and says the plan is tied to Intel’s effort to build a major chip manufacturing campus in Ohio that has been in the works for years.

Intel and the Trump administration are reportedly discussing the possibility of the U.S. government taking a stake in the semiconductor giant to boost domestic manufacturing.

Citing people familiar with the situation, Bloomberg reported on Thursday that it’s not known how many shares the U.S. government could end up taking and tied the plan to Intel’s effort to build a major chip manufacturing campus in Ohio that has been in the works for years.

[Related: Exclusive: Intel Boosting Partner Incentives With ‘Simplified’ Alliance Program]

An Intel spokesperson declined to comment on the report but said in a statement that the Santa Clara, Calif.-based chipmaker is “deeply committed to supporting President Trump’s efforts to strengthen U.S. technology and manufacturing leadership.”

“We look forward to continuing our work with the Trump Administration to advance these shared priorities, but we are not going to comment on rumors or speculation,” the representative added.

Intel’s stock price was up nearly 7.4 percent at market close, and shares continued to increase in after-market trading, growing more than 3 percent.

The report came out as Intel announced that it is increasing investments in partners in the second half of the year to give them “more value” and “more benefits” as part of a “simplified” Intel Partner Alliance program the semiconductor giant plans to launch this October.

Bloomberg said the potential investment plan stemmed from Intel CEO Lip-Bu Tan’s visit with President Trump on Monday, which took place days after Trump called for Tan to resign “immediately” for allegedly being “highly conflicted.”

After the Monday meeting concluded, Trump cooled down his rhetoric, remarking on the Trump-affiliated social network Truth Social that Tan’s “success and rise is an amazing story.”

In the Monday Truth Social post, Trump said his meeting with Tan, Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent “was a very interesting one.” Tan and members of the Trump cabinet “are going to spend time together, and bring suggestions to me during the next week,” the president wrote.