I don’t usually post on these forums but I’ve seen a large amount of misinformation and misunderstandings surrounding the U.S. government taking a share in Intel. It is not as simple as Trump just taking 10% “for free”.
The U.S. government took a 10% stake in Intel with 8.9 billion and paid 8.9 billion through the CHIPS Act and Secure Enclave Program. Under Biden the CHIPs act set milestones for Intel to achieve at which point they would get more money from the government. This money was allocated ahead of time and set aside until now.
All Trump did was ditch the milestones and give Intel the money ahead of time while taking a 10% stake and since the money was allocated under Biden he feels that he got it “for free”. A reasonable person looking at the deal without considering who is in office would see the U.S. government giving a company 8.9 billion and then taking a stake in it.
Trump has since said that he would “take deals like this all day” but the would be impossible since the U.S. government can’t afford to pay every single company.
Feel free to argue about whether or not this is a good thing but I wanted to try to clear up this misconception that seems to be very common right now.
Trump DID NOT take the 10% stake in Intel “For Free”.
byu/Reasonable_Ad8215 inStockMarket
Posted by Reasonable_Ad8215
26 Comments
>Trump has since said that he would “take deals like this all day” but the would be impossible since the U.S. government can’t afford to pay every single company.
– Gesticulates wildly at every company Trump bankrupted
You think he cares?
all of the sane informed normal people know what Trump did. it’s only the fox news viewers that have no idea or don’t understand this is ACTUAL socialism/ communism. That said thanks for spreading the news it never hurts to spread the truth
Hair Furor lied? Shocked, shocked
The government paid for it to end up in trumps personal brokerage account. Therefore, free, and trump didn’t pay anything.
Just like the “free” airplane that was gifted as the next airforce1.
/s
Did he do the same thing with NVDA or is NVDA just giving the US a cut of the profits?
Appreciate the clarification, but the people that need to learn it won’t read it; while the ones that already know it are like “yeah, no shit”.
Did the CHIPs act require receiving 10% as well? If so, then you are correct. Otherwise – it gets complicated!
Trump placing $20 bets on four horses in a horse race, then claiming he’s a winner when he only won $6
I guess I’d rather the government get something in return than handing out bailout money for executives to throw parties and give themselves huge raises.
intel diluted their outstanding shares by an additional 433 million. that’s what trump paid for.
So he can socialise Tech but not socialise healthcare or Tertiary education…… Interesting.
Also thought there was no money?
When is he also going to take a stake in taiwan semiconductor or samsung then? The chips act was about bringing chips manufacturing back to the US while hiring american workers in those facilities. The money should then be earned back in taxes over time. Intel is just a power play much like the other recent power plays telling various companies how to operate.
Where is the Fox crowd screaming about how this is communism? Oh right they have no idea what actual Communism is anyway.
They can’t see actual Communism just like how the 2A crowd can’t recognize an actual tyrannical government in front of them.
Help us all ….
So Trump wants an authoritarian government where the president is immune from the law,
And
He wants the government to own and control the means of production.
He does not seem like he supports the values he claims to support. His supporters support him no matter what he does.
Anyone who think they gave him 10% is dumb.
He used tax payer money to pump so he could dump…
There was no language in the CHIPS Act to authorized the conversion of the grants to equity ownership. Trump just makes up his own rules regardless of what the Constitution requires regarding who controls government spending.
We all know that, but he doesn’t care that we all know that. In his twisted mind, he got it for free.
Misinformation from the Trump Administration? You don’t say…
people here hate Trump so much that it clouds their judgment and investing insights. mods should definitely do something about it
Thats just sounds like girl-math…. Maybe soy-math. All you’re really saying, without the spin, is that he got a free 10% stake in Intel.
I am shocked. I can’t believe he lied to me.
Do… do ppl actually believe tRump’s lies?
I was going to buy a car, so I transferred money to my expense account. The car had rust so I didn’t buy it, I instead got a boat but since I had already earmarked the money for the car the boat was FREE!
Infinite money glitch
Welcome to government accounting. Once the fiscal year an expenditure has been made expires, anything purchased with these funds is free in coming fiscal years. If that expenditure had not been made with nothing substituted in its place, those funds would “expire” unspent. It is crazy-making, but that’s how government accounting works. Hence the phrase “use it or lose it.”
Biden spent the money. Trump got the reward. For Trump it was free.
For the citizens who paid for Biden’s largesse, it wasn’t free, but that’s a different issue.
Thank you for your attention to this matter.
Everyone who has a functioning brain knows this. The problem is, there are a lot of people who do not have a functioning brain. What is going on now is a form of fascism where the state picks favorites.