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President Trump came out swinging Monday morning against naysayers criticizing his administration’s recent deal to secure a 10 percent stake in Intel, a major American semiconductor company.
“I PAID ZERO FOR INTEL, IT IS WORTH APPROXIMATELY 11 BILLION DOLLARS. All goes to the USA. Why are ‘stupid’ people unhappy with that? I will make deals like that for our Country all day long,” Trump wrote on Truth Social.
“I will also help those companies that make such lucrative deals with the United States [States]. I love seeing their stock price go up, making the USA RICHER, AND RICHER. More jobs for America!!! Who would not want to make deals like that?”
National Economic Council (NEC) Director Kevin Hassett touted the deal during an interview on CNBC. “Intel is going to get the CHIPS money, but in exchange, we’re going to get some equity – and the equity is not voting, so there’s not going to be government intrusion into the business of Intel, it’s more like a down payment on a sovereign wealth fund, which many, many, countries have,” Hassett told the host.
President Trump announced the deal on Friday afternoon on Truth Social. “It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future. I negotiated this Deal with Lip-Bu Tan, the Highly Respected Chief Executive Officer of the Company. The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation. MAKE AMERICA GREAT AGAIN! Thank you for your attention to this matter.”
Commerce Secretary Howard Lutnick, who helped broker the deal, outlined the importance of American dominance in the industry. “This historic agreement strengthens U.S. leadership in semiconductors, which will both grow our economy and help secure America’s technological edge,” Lutnick wrote on X.