SoftBank, Trump Plug Into Intel's Comeback

LESS THAN TWO weeks after US President Donald Trump called for the ouster of Intel's Lip-Bu Tan, the company's chief executive officer has a shot at securing billions of dollars in fresh capital that could help him turn around the troubled US chipmaker.

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The Trump administration is in discussions to take a stake of about 10% in Intel, possibly by converting grants made to the company under the US Chips and Science Act into equity, sources said. That could allow Intel to tap about $10 billion in capital as Tan works out a strategy for revival.

US commerce secretary Howard Lutnick on Tuesday said the government wanted an equity stake in Intel in exchange for cash grants approved during the administration of former President Joe Biden.

Separately, treasury secretary Scott Bessent said any US investment in Intel would be aimed at helping the troubled chipmaker stabilize.