President Donald Trump claims that the United States contributed $30 billion in funds generated by Intel’s federal actions in the last 90 days alone.
Trump made the announcement on Thursday, emphasizing that he had authorized the US government to invest in the semiconductor. manufacturing business. Trump revealed in August last year that Intel had agreed to the federal government acquiring a 10% stake in the company.
“Intel stock continues to grow. I am very proud of this company as I am responsible for bringing the United States of America over $30 billion in the last 90 days on these stocks alone,” Trump wrote.
“There are others that, similarly, I have had great success with in taking pieces of Equity for support. Congratulations to Intel for doing such a good job and, more importantly, congratulations to the people of the United States for doing such a good job. investment!”, he added.
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U.S. President Donald Trump speaks during a Cabinet meeting in the Cabinet Room of the White House. (Chip Somodevilla/Getty Images/Getty Images)
The administration announced the deal with Intel when the company was struggling last year. Semiconductors power everything from smartphones to defense systems, and Intel’s slowdown has been a problem. national security concernsay industry analysts.
Actions in this article: Intel revealed new chip manufacturing in early January, accounting for a large portion of its growth. Nonetheless, former Intel CEO Pat Gelsinger warned at the time that the United States still had a long way to go to recover chip production in Asia.
Lip-Bu Tan, CEO of Intel Corp., during a press conference on the sidelines of the Computex conference in Taipei, Taiwan. (Annabelle Chih/Bloomberg via Getty Images / Getty Images)
“The metric [is] However, how many wafers are built in America,” Gelsinger said in January on “The Claman countdown.”
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“That’s the only thing that matters,” he added.
Much of the world’s advanced chip manufacturing remains concentrated in Asia, particularly in Taiwan. U.S. officials said the imbalance posed economic and national security concerns.
Gelsinger said it was critical for manufacturing to return to the United States, while warning that progress would take time.
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“It’s difficult to win back this industry. You know it took decades for it to stabilize in Asia. It’s not coming back quickly,” he said.
Madison Colombo of FOX Business contributed to this report.
