US-Intel investment: Donald Trump says deal will make US ‘richer’; ‘will strike more such deals’
US President Donald Trump said on Monday that America will be getting “richer and richer” as he hailed a landmark deal with Intel, saying their stock prices are going up.He also expressed readiness to strike more such deals, as they would bring more jobs to the country.Trump also took aim at the “stupid” people opposing the deal saying that the deal is worth $11 billion, of which all returns will be going to the country.“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. I will also help those companies that make such lucrative deals with the United States States.” Trump wrote on social media platform Truth Social.He added, “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?”Tech giant Intel Corporation had announced that the US government will be investing $8.9 billion in its common stock, as part of the company’s more than $100 billion plan to strengthen domestic technology and manufacturing leadership. The equity stake will come from $5.7 billion in grants already approved but not yet paid under the US CHIPS and Science Act, along with $3.2 billion from the Secure Enclave programme. This takes total government support for Intel to $11.1 billion, including $2.2 billion in earlier CHIPS grants.The announcement also marks a striking turnaround in Trump’s stance toward Intel’s CEO, Lip-Bu Tan. Earlier, the President had publicly demanded Tan’s resignation over his past investments in Chinese technology firms. But after a meeting, Trump described him as the “Highly Respected Chief Executive Officer” who “negotiated this deal” with him.Tan, in response, thanked the administration for its “confidence” in Intel and reaffirmed the company’s commitment to delivering secure and trusted semiconductors for the US.
