U.S. in talks to use Chips Act funds for Intel stake, Bloomberg says

The Trump administration is considering using funds from the Chips Act to take a stake in Intel (INTC), Joe Deaux, Ryan Gould, Mackenzie Hawkins and Josh Wingrove of Bloomberg report, citing people familiar with the discussions. The government is in talks to use Chips Act funding to at least partially finance an equity stake in Intel, and it is unclear if this would involve converting Intel’s existing Chips Act grants into equity or allocating new funding, sources told Bloomberg. Shares of Intel are up 2% to $24.44 in morning trading.