Nonilex

#Trump said on Friday the US would take a 10% stake in #Intel under a deal with the struggling chipmaker & is planning more such moves, the latest extraordinary intervention by the White House in #corporate America.

The development follows a meeting between CEO #LipBuTan & Trump earlier this month that was sparked by Trump's demand for the Intel chief's #resignation over his ties to Chinese firms.

#law #ExecutiveOverreach #AbuseOfPower #extortion #business #tech #AI
https://www.reuters.com/business/trump-says-intel-has-agreed-deal-us-take-10-equity-stake-2025-08-22/

Aug 22, 2025 at 6:27pmWeb
Show threadNonilexAug 22, 2025

"He walked in wanting to keep his job & he ended up giving us $10 billion for the United States," #Trump said on Friday.

#Intel declined to comment.

The move follows a $2 billion capital injection from #SoftBank Group in what was a major vote of confidence for the troubled US chipmaker in the middle of a turnaround.

#law #ExecutiveOverreach #AbuseOfPower #extortion #MafiaState #business #tech #AI

Show threadNonilexAug 22, 2025

…#Trump has pushed for multibillion-dollar government tie-ups in #semiconductors & rare earths, such as a pay-to-play deal with #Nvidia & an arrangement with rare-earth producer #MPMaterials to secure critical #minerals.

Tan, who took the top job at #Intel in March, has been tasked to turn around the American chipmaking icon, which recorded an annual loss of $18.8 billion in 2024—its first such loss since 1986.

#law #ExecutiveOverreach #AbuseOfPower #extortion #MafiaState #business #tech #AI

Show threadloucoveyAug 22, 2025
@Nonilex Wondering how much of that Trump will funnel into his own pocket
Show threadWild Eyed Boy From FreecloudAug 22, 2025
@Nonilex It appears the invisible hand is a shitty orange color.