Bessent spoke on CNBC about turning Intel’s CHIPS Act grants into a U.S. government stake in the company

In sum – what to know:

Taking a stake: Treasury Secretary Scott Bessent told CNBC that the U.S. government is considering converting billions of dollars of grants to Intel, into an ownership stake in the chip maker.

Billions at stake: Intel was awarded nearly $8 billion in federal funding under the CHIPS Act to bolster domestic chip manufacturing, plus government contracts.

Treasury Secretary Scott Bessent indicated in an interview on CNBC’s “Squawk Box” that the Trump administration is considering converting billions of dollars in federal funding for Intel, which was awarded under the Biden administration, into an ownership investment stake in the chip maker.

The move to buy an

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