Semiconductor: U.S. govt eyes stakes in chipsmaker to boost production

AWANI

The U.S. government is eyeing stakes in major chipmakers, including Intel, under the CHIPS Act to boost domestic production and reduce reliance on foreign suppliers.

Transcript

00:00Meanwhile, the U.S. government is exploring taking ownership stakes in major semiconductor companies

00:05in exchange for Federal Chips Act grants.

00:08The White House confirms that the Commerce Department is working on a potential 10% stake in Intel.

00:15Commerce Secretary Howard Lutnik said the government would seek non-voting shares,

00:20giving Washington a financial stake without direct control.

00:23The move aims to keep critical industries like chip manufacturing from relying on foreign suppliers.

00:30Reuters reported similar arrangements could extend to other companies, including TSMC, Micron and Samsung.

00:37The Chips Act, signed into law under the Joe Biden administration,

00:41provides billions in funding to boost U.S. chip production,

00:44create tech jobs and protect supply chains for everything from smartphones to cars.

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