On Wednesday, President Donald Trump touted the federal government’s investment in Intel Corp. (NASDAQ:INTC) as one of America’s most lucrative strategic bets.
Trump Celebrates Massive Intel Windfall
In a post on Truth Social, Trump said the government’s equity position in Intel had generated enormous returns since his administration authorized the investment last summer.
“I’m very proud of that Company in that I am responsible for making the United States of America over 30 Billion Dollars in the last 90 days on that stock alone,” Trump wrote.
He added, “There are others that, likewise, I have been very successful with by taking pieces of the Equity for support.”
How The US Government’s Intel Investment Grew
The U.S. government acquired a 10% stake in Intel in August, purchasing 433.3 million shares at $20.47 per share for roughly $8.9 billion.
The funding included $5.7 billion from the CHIPS and Science Act and $3.2 billion from secure semiconductor initiatives.
With Intel stock …
This post was originally published here
