Commerce Secretary Howard Lutnick told CNBC the U.S. government wants a stake in Intel in exchange for CHIPS Act grant money promised under Biden.

Owning the Means of Production The Trump administration’s push for a 10% equity stake in Intel (NASDAQ:INTC), leveraging $10.9 billion in CHIPS Act grants — $7.9 billion for domestic investments and $3 billion for defense microelectronics — has ignited debate.

US government wants stake in Samsung and TSMC But before we get to that, let’s look at how the US government plans to acquire its stake in Intel. As part of the CHIPS Act, which was a grant from the US government to help the domestic semiconductor industry.