Trump Praises Intel Stake As Path To More Deals, Jobs, Wealth For U.S.

Benzinga

President Trump on Monday praised the government’s new 10% stake in Intel, valued at about $8.9 billion, according to CNBC. The president posted on Truth Social that he intends to strike similar deals to boost jobs and wealth in the U.S. White House economic advisor Kevin Hassett called the move part of a larger plan to build a sovereign wealth fund. Part of the funding comes from CHIPS Act grants, with the rest from separate government allocations for secure chip programs. The administration stressed it would not interfere in Intel’s operations but noted the step aligns with tariffs and policies aimed at onshoring production. Trump signed an executive order in February to create the sovereign wealth fund, modeled after funds in countries like Norway and China.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02President Trump on Monday praised the government's new 10% stake in Intel,

00:06valued at about $8.9 billion, according to CNBC.

00:09The president posted on True Social that he intends to strike similar deals

00:12to boost jobs and wealth in the U.S.

00:14White House Economic Advisor Kevin Hassan called the move a part of a larger plan

00:18to build a sovereign wealth fund.

00:20Part of the funding comes from CHIPS Act grants,

00:22with the rest from separate government allocations for secure CHIP programs.

00:26The administration stressed it would not interfere in Intel's operations,

00:28but noted this step aligns with tariffs and policies aimed at on-shoring production.

00:33Trump signed an executive order in February to create the sovereign wealth fund,

00:37modeled after funds in countries like Norway and China.

00:39For all things money, visit Benzinga.com.

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