U.S. Commerce Secretary Confirms Bid to Acquire Intel Shares, States No Corporate Governance Rights

According to a report by Jinse Finance, U.S. Secretary of Commerce Luttig has confirmed that the U.S. government is in talks with Intel (INTC.O), planning to replace subsidies under the CHIPS and Science Act with equity stakes. Luttig stated on Tuesday that this plan would not grant the U.S. government any governance or voting rights in the company. He criticized the CHIPS Act signed by former President Biden, saying it provided subsidies to semiconductor manufacturers without delivering any returns to American taxpayers. In an interview, Luttig said, "This is not about governance; we are simply converting Biden-era grants into equity, and these are non-voting shares." The negotiations with Intel mark a significant shift in U.S. semiconductor policy. If finalized, this could pave the way for similar agreements with other chip manufacturers. Luttig also noted that the U.S. aims to rebuild some domestic chip manufacturing capacity for national security reasons.