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The US government has taken 10% stake in tech company Intel. In return, the government will give a subsidy of about $ 8 billion to the company. This information has been given by American Commerce Secretary Howard Lutynik. Giving information, Lootnik wrote in the X post,
Big news, the US government now holds one of the great American tech companies, 10% of Intel. This historic agreement will strengthen the US leadership in the semiconductor sector, this will give growth to our economy and security to the American tech sector. Thanks to Intel’s CEO for this agreement.
Trump said- CEO came to save jobs, but gave 10 billion dollars
Recently, President Trump had a meeting of the company’s CEO Lip-Bow Tan Beach recently. According to reports, Trump had asked Tan to resign due to his alleged relations with China. On the 10% stake in the company, Trump said that this is a very good deal for him. CEO saved his job.
Government’s share will increase the growth of the company
The Trump administration has taken this stake in Intel so that chip manufacturing can be promoted in the US. Intel is the only company in the US that can create fastest and modern chips. But in the last few years, the company Artificial Intelligence (AI) has lagged behind companies like Nvidia and AMD in the Chips Market.
Apart from this, a large factory being built in Intel’s Ohio is delayed, which is quite special for Trump. Because this project is important not only for economic but also for the national security of America.
The company will get a subsidy of ₹ 68,100 crore
According to Bloomberg, the US government has taken this stake in the company under the Chips Act of 2022. In which the company will be given subsidy in lieu of share. Under this Act, Intel has already been approved for a subsidy of about $ 7.8 billion (about ₹ 68,100 crore), out of which $ 2.2 billion (about ₹ 19,200 crore) has been received. Now the Trump administration is planning to invest the remaining $ 5.7 billion (about ₹ 49,764 crore) and some additional funding in Intel’s shares.
Share climbed 7% after news of government share
After the news of the US government taking a 10% stake in Intel, the company climbed 7% to cross $ 25 during the business. Went. However, it later declined and closed at $ 24.80 above 5.53%. Intel’s stock has climbed 2.18% in the last 6 months and 20.74% in a year. However, in the last 5 years, the value of the company shares has fallen by 49.68% to half. The company’s market cap is Rs 10.85 thousand (about ₹ 9,47,269 crore).
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Read this news too …
Intel will pruning 24,000 employees this year: the company decided this due to cost cutting and restructuring
Intel, one of the world’s largest semiconductor companies, will pruning one-fourth of its workforce this year i.e. 24,000 employees (25%). The company has announced a large-scale cost cutting and restructuring in the leadership of the new CEO Lip-Bu Tan.
Along with this, Intel has also canceled its essential expansion projects in Germany and Poland. Because the company is trying to improve its economic status and strengthen the competition in the market.
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