White House Makes ‘Historic’ Intel Deal Official

After considerable chatter, the Trump White House made official a decision that is earning praise while also ruffling some feathers. The United States government will have a 9.9% stake in Intel, which could spell good news not only for the company, but the United States, including Ohio.

The plan is especially integral to Ohio, given that plans for an Intel manufacturing plant being built in 2025 have been delayed until 2030 or 2031. Such delays raised concerns from Sens. Bernie Moreno and Jon Husted, R-Ohio, as well as state lawmakers, including Democrats.

Amidst the chatter about reports of a pending deal, Husted shared a thread over his official X account last Thursday about Intel and the CHIPS and Science Act.

Husted’s thread responded to the federal ownership stake and how it “might make sense for taxpayers.” He also spoke of the two remaining issues: “lowering production costs and ensuring strong customer demand.”

The senator made clear the government’s “role to play,” especially when it comes to domestic sourcing of chips.

Husted’s final post in the thread also referenced other companies, insisting, “A broader national, private-industry strategy is essential.”

Last Thursday, the Columbus Dispatch spoke to Husted’s involvement with Intel in his previous role as lieutenant governor: “As the former lieutenant governor, Husted played a role in helping to get Intel to come to Ohio, which at the time was considered the biggest economic development project in the state’s history.”

Husted was appointed to the Senate in January by Republican Gov. Mike DeWine to replace now Vice President JD Vance, triggering a special election for 2026. Husted will face former Sen. Sherrod Brown, a Democrat who lost last November to Moreno.

Moreno also spoke about the deal last week.

“The U.S. taxpayer said, ‘Hey we’re going to give you the money, here you go, make semiconductors in America,'” Moreno was quoted as saying at the City Club of Cleveland. “What’s happened? The facility’s sitting there. It’s a big gigantic construction site. It’s not producing anything.”

Last Friday, Intel CEO Lip-Bu Tan posted a picture alongside Secretary of Commerce Howard Lutnick announcing “a historic agreement” involving the U.S. government’s investment of $8.98 billion in Intel.

Moments later, President Donald Trump made a similar announcement from Truth Social, making clear that the “United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars.”

He also referred to the agreement as “a great Deal” and how Intel’s role “is fundamental to the future of our nation.”

An announcement from Intel explained more about the deal. “The government’s equity stake will be funded by the remaining $5.7 billion in grants previously awarded, but not yet paid, to Intel under the U.S. CHIPS and Science Act and $3.2 billion awarded to the company as part of the Secure Enclave program,” the announcement stated. “Intel will continue to deliver on its Secure Enclave obligations and reaffirmed its commitment to delivering trusted and secure semiconductors to the U.S. Department of Defense. The $8.9 billion investment is in addition to the $2.2 billion in CHIPS grants Intel has received to date, making for a total investment of $11.1 billion.”

Lutnick is also quoted. “Intel is excited to welcome the United States of America as a shareholder, helping to create the most advanced chips in the world,” the commerce secretary said. “As more companies look to invest in America, this administration remains committed to reinforcing our country’s dominance in artificial intelligence while strengthening our national security.”

On Monday morning, Lutnick posted a video between himself and Tan framing the announcement as being about “The Art of the Deal: Intel.”

Lutnick explained how the Biden administration had provided a grant to Intel, but the Trump administration has made agreement about what’s “fair” for Intel and the American people. “This is exactly what Donald Trump is all about,” Lutnick declared.

National Economic Council Director Kevin Hassett also explained on CNBC how a deal was worked out with the United States receiving “equity,” making clear that “the equity is not voting, so there’s not going to be government intrusion into the business of Intel.”

Not everyone is a fan of the government taking a stake in a private company. The Washington Examiner and Mediaite highlighted concerns from conservatives about “socialism.”

Trump responded to the criticisms in a post on Monday morning, reiterating how he “PAID ZERO FOR INTEL.”

The president also made clear he will continue making similar deals, insisting they were good for the country, bringing in more money and more jobs.

The post White House Makes ‘Historic’ Intel Deal Official appeared first on The Daily Signal.