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U.S. government takes 10% stake in Intel

(www.cnbc.com)
607 points givemeethekeys | 1 comments | 22 Aug 25 21:01 UTC | HN request time: 0.202s | source
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sgnelson ◴[23 Aug 25 01:52 UTC] No.44992267[source]▶
Everyone is talking about "bailouts" and "owning a company that the government funds."

This isn't about that at all. This is about the breakdown of the rule of law, a unitary executive bypassing all other branches of government and demanding a private enterprise give itself over to the government.

If you don't think there was an "or else" as part of this deal, you're largely mistaken. If you don't think that there will be other questionalbe demands placed on Intel in the future from this government, you are largely mistaken.

But y'all go ahead and can keep arguing over whether we should "get something back" from this deal. Because that's really going to maker ameraica graet agian.

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fluoridation ◴[23 Aug 25 02:34 UTC] No.44992539[source]▶
Why would the government need to "demand" to buy a piece of a publicly-traded company? Is 10% of Intel more than what is being traded in the public market?
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BurningFrog ◴[23 Aug 25 02:40 UTC] No.44992580[source]▶
As I understand it, the government didn't pay anything for these shares.
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frollogaston ◴[23 Aug 25 03:56 UTC] No.44993006[source]▶
"purchasing 433.3 million shares at a price of $20.47 per share" in the article. That was the price a day or so ago
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1. webninja ◴[28 Aug 25 01:17 UTC] No.45047215[source]▶
From my understanding, these funds were already approved by the Biden Administration via the Chips act and another. Our president managed to obtain 10% of the shares for this money that was already going to intel in exchange for removing a clawback provision stipulated by the Chip’s act.

Norway has an incredible sovereign wealth fund that funds many benefits for its citizens. Perhaps if the Intel dividends are used for social security benefits, there will be bipartisan cheering.