Market Chatter: Trump Says He Should Have Sought Larger Intel Stake for US Government

MT Newswires Live05-18 19:09

US President Donald Trump said he regretted not seeking a larger government stake in Intel (INTC) as part of last year's agreement tied to federal support for the chipmaker's US manufacturing expansion, according to an interview with Fortune magazine published on Monday.

Trump said the US government acquired a 10% stake in Intel in exchange for an investment of about $10 billion for chipmaking grants and factory construction or expansion in the US, and that the position has since risen to more than $50 billion, the report said.

The US president added that he believes the government could gradually sell its Intel stake over time without disrupting the stock if the process is communicated clearly to investors, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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