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US government buys $8.9B Intel stake to boost chip production
Business
The US government just bought a 9.9% stake in Intel for $8.9 billion, snapping up over 433 million shares at about $20 each.
It's all about making sure more computer chips are made in the US, so the country isn't as dependent on overseas supply chains—especially with tech being such a big deal for security and the economy.
Intel's manufacturing push gets federal boost
This investment adds to Intel's own $100 billion plan to ramp up American manufacturing.
The money comes from federal programs like the CHIPS and Science Act and Secure Enclave, bringing total government support for Intel to over $11 billion.
Even with this big buy-in, the government won't be running things at Intel—it's a passive role, but it shows how serious Washington is about staying ahead in global tech.