Odaily reported that U.S. President Trump said in a post that the United States needed to bring the semiconductor industry back to the country, and therefore decided to help Intel in exchange for a 10% stake in the company. In his statement, Trump linked the arrangement to chip design and manufacturing in the United States, describing it as part of the effort to return semiconductor production to U.S. soil.
Trump names Nvidia, TerraFab and Apple in Intel cooperation push
Trump said the United States promoted cooperation between Nvidia, TerraFab under Elon Musk, Apple and Intel to design and manufacture chips in the United States. According to his post, when the United States proposed the related plan, Intel was valued at about $100 billion.
Trump stated that Intel’s valuation has now exceeded $600 billion. Based on the 10% stake that the United States received through helping Intel, he said the value of the U.S. holding is now more than $60 billion. The news was published by Odaily under its technology dynamics category.