US government takes ~9.9% stake in Intel; CHIPS Act requirements waived
US government takes ~9.9% stake in Intel; CHIPS Act requirements waived Summary: The U.S. government has converted $5.7 billion of previously earmarked CHIPS Act funds into Intel common stock, resulting in roughly a 9.9% equity stake. In connection with that action, most CHIPS Act milestone and cash‑flow sharing requirements tied to those funds have been waived. The government’s total involvement in Intel now stands at about $11.1 billion when including earlier grants and program awards. Key facts Stake & funds: ~$5.7B converted into equity (~9.9% stake). Total government involvement ≈ $11.1B (includes other awards). Milestones waived: Intel is no longer required to meet certain CHIPS Act project milestones or share a portion of cumulative cash flow from projects with the Commerce Department. Remaining restrictions: Funds cannot be used for dividends…
