The Trump administration’s big Intel investment comes from already awarded grants

Intel formally Declare an agreement Friday afternoon with President Donald Trump’s administration, follow Trump’s statement The government will take part in 10% In the fiery chipmecker.

When Intel says that the government is investing “$ 8.9 billion in the Intel Common Stock”, the administration does not seem to be committed to new funds. Instead, it is just good to give Intel “previously, but not yet given Intel.”

Specifically, $ 8.9 billion is believed to be from $ 5.7 billion Rewarded — yet not to Intel Under the Chips Act of Biden Administration, as well as $ 3.2 billion Awards by the Biden Administration Through the protected shit mahal program.

In His social network is a post of true social“The United States of America has given nothing for this share,” Trump wrote. ” Nevertheless, he describes it as “a great deal for America and a great deal for Intel.”

Trump has criticized the Chips Act, This is called a “awesome, terrifying thing” And the house speaker called Mike Johnson to “release” from it. In Filing a regulatory In June, Intel said that it had already received $ 2.2 billion of the Chips Act fund, later the government could not pay yet to pay an additional $ 5050 million for repayment.

According to the New York TimesSome bankers and lawyers believe that the Chips Act does not allow the government to convert its grant to the equity, this agreement opens for possible legal challenges.

In addition to its targeting of the Chips Act, Trump Intel’s CEO earned Lip-Boo Tan’s interest conflict earlier this month and It was said that “should be resigned immediately.” The President was more positive about the tension on Friday, saying about the truth about “he” discussed the agreement with Lip-Boo Tan, the highly respected CEO of the company. “

On his behalf, Tan said in a statement that “the company is grateful for the confidence that the President and the administration have kept in the Intel and we are hoping to work to advance US technology and production leadership.”

Intel’s announcement also said that the government’s investment would be “passive” without the right of the board or other administration and information rights.