Donald Trump announced this Friday, August 22, the entry of the US federal state to the capital of the company of the semiconductor processors and Intel on Friday, August 22 for 10%, saying that “he had not done anything.”
“I have negotiated this agreement with Lip-Bu Tan (the general director of the group, note of the editor). The United States has not paid anything for these actions that are now valued around eleven billion dollars. It is a great agreement for the United States and Intel,” he said.
An estimated investment at $ 11 billion
Donald Trump had declared earlier in the day, in the Oval office, that Intel had accepted his government’s proposal, adding that he thought “that it is a very good agreement for them.”
In a press release, Intel said that the US state investment amounted to $ 8.9 billion, part of which corresponded to the subsidies that had not yet been paid, to which the 2.2 billion subsidies already paid are added, in total an investment of just over $ 11 billion.
“We thank the confidence in Intel exhibited by the President and the Government and we want to work to strengthen the technological and industrial domination of the United States,” said Lip-Bu Tan, cited in the press release.
The United States government wanted to obtain actions in the company’s capital in exchange for subsidies already planned by former President Joe Biden, Howard Lutnick, secretary of Commerce, also said last week.
These subsidies took place within the framework of the ACT chips, the law approved under the Democratic predecessor of Donald Trump, with the aim of encouraging the installation in the country throughout the chip and semiconductor chain.
But the US president seeks to attract companies by imposing customs tariffs in imported products to the country, which makes the commitment to prefer to implement factories instead of having to pay the surcharge.
“We should receive capital in exchange for our money,” said Howard Lutnick. “We will pay the money that has been hired by (Joe’s government) Biden and we will have titles in return.”
Therefore, an entrance to the capital of Intel acted, but, however, it was carried out without the vote rights or the siege of the group’s board of directors, said Howard Lungick.
Asian competition
Intel is one of the most emblematic companies in Silicon Valley, but its success has been eclipsed by Jugens TSMC and Samsung, which dominate the semiconductor market.
In early August, Donald Trump attacked Lip-Bu Tan, accusing him of “facing a serious conflict of interest” and calling him “to renounce immediately”, before receiving it on August 11 at the White House during a meeting qualified by the US president of “very interesting.”
The Japanese investment giant in Softbank Group Technologies also announced last week its desire to invest two billion dollars in Intel Capital, which would lead its participation to 2%.
Source: BFM TV
