Intel shares leap after Trump announces chip deal with Apple
In a social media post, President Trump touted the U.S. government's 10% stake in Intel, noting that it is now worth $60 billion.
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In a social media post, President Trump touted the U.S. government's 10% stake in Intel, noting that it is now worth $60 billion.
Jay Clayton, the former SEC chair, is President Trump's latest nominee for director of national intelligence. Plus, the Pentagon is sued by The New York Times for "Orwellian" press restrictions, and a judge rules that this weekend's UFC fight at the White House may go forward. CBS News legal reporter Katrina Kaufman has the latest.
Patrick McGee, a contributing writer for The Free Press, joins CBS News 24/7 to discuss his latest column about how Intel's semiconductor chips could be the key to bolstering the U.S. economy. Paramount Skydance owns The Free Press and CBS News.
Critics caution U.S. government equity stakes in American companies could lead to cronyism, distorted economics and bad deals for taxpayers.
President Trump called the government's recent 10% in semiconductor chipmaker Intel a good deal. The administration converted nearly $9 billion in federal grants to the company into Intel stock. Jo Ling Kent has more.
President Trump said Monday that he hopes to have more deals like the agreement announced with tech company Intel last week that gave the U.S. government a 10% stake in the company. Peggy Collins, Washington bureau chief for Bloomberg News, and Julia Manchester, national political reporter for the Hill, joined "The Takeout" to discuss.
Speaking with reporters on Friday, President Trump said the deal came out of a meeting last week with Intel CEO Lip-Bu Tan.
Intel CEO Lip-Bu Tan said in a letter that there "has been a lot of misinformation" about his previous work.
President Trump urged Intel CEO Lip-Bu Tan to resign on Thursday, calling him "highly conflicted."