Bitcoin reached a new all-time high of $118,900 on Friday, surpassing its previous record of $113,822 set on Thursday. As Read more
Selling software to companies can be a daunting task, especially when it comes to meeting security requirements. Chas Ballew, founder Read more
Earlier this week, San Diego startup Gallant announced $18 million in funding to bring the first FDA-approved ready-to-use stem cell Read more
The world’s richest man buys out one of the most popular social media platforms and uses it as a propaganda Read more
The U.S. Government to Take 10% Stake in Intel, Boosting Stock by 7%
The U.S. government is planning to take a 10% stake in Intel, as reported by Bloomberg, leading to a 7% increase in the semiconductor chip company’s stock. President Donald Trump confirmed that Intel has agreed to this proposal, although Intel itself declined to comment on the matter.
Restructuring and Volatility at Intel
This move comes during a crucial and tumultuous period for Intel, as CEO Lip-Bu Tan is in the process of restructuring the company by closing certain divisions and laying off employees to refocus on core businesses and compete with companies like Nvidia. Trump had previously urged Tan to resign due to perceived conflicts of interest, but the two later met to discuss ways for the company to collaborate with the government.
Unusual Government Ownership in a Major Corporation
If the deal goes through as expected, the federal government’s ownership of a major corporation like Intel would represent a significant departure from traditional U.S. policy. Government equity stakes in private companies are rare and contentious, with few exceptions like the temporary ownership stakes taken during the 2008-2009 financial crisis. This move by the U.S. government follows SoftBank’s recent $2 billion investment in Intel, demonstrating a commitment to advanced technology and semiconductors in the U.S.
