Larry Kudlo of Fox Business on Friday expressed concern over the Trump administration’s move to take a 10 percent stake in Mega Chipmaker Intel.
Kudlo said in an interview to Economist Stephen Moore, “I am very uncomfortable with that idea. I am very uncomfortable with that one, but it is a conversation for another food in another day.” Mediate,
Moore, in the first presence, also criticized the administration’s decision, called it “terrible”.
During his first term, Moore told Kudlo, who served under President Trump as the director of the National Economic Council, “I hate corporate welfare.
Trump on friday Announced The US government now owns 10 percent of Intel shares.
“The United States did not give anything for these shares, and the value of the shares is now around 11 billion dollars. It is a great deal for the US and, also a great deal for Intel. The leading lead is a semiconductor and chips, which intenses, is fundamental for the future of our nation. Make America great again!” He wrote on social media.
Reached the White House for the hill comment.
Commerce Secretary Howard Lutnik said that the purchase would promote a struggling American chipmaker. Government will use Allocated funds Under the Chips and Science Act of former President Biden.
“So we will distribute the money that was already committed under the Biden administration,” said Lutnik. “We will get equity in return, instead of giving only grants, we will get a good return for the American taxpayer.”
After the deal, Intel’s CEO, Lip-Way Tan appreciated the agreement Social mediaStating that it would “promote the American semiconductor leadership.” X
“I am excited about further work that the future most advanced silicone technology and computing products have been ensured that this is designed here in the USA.
The agreement has a sharp opposite in Trump’s relationship with the chief executive, which he Asked to resign earlier this month. The President shared on Friday how the government signed a deal after going with Tan.
“And he came in, he looked at me, we talked to me for some time. I liked him very much. I thought it was very good,” he told reporters. “I felt that he was somewhat hunting, but, you know, no one is a total hunting, I think.”
“And I said, ‘You know what? I think the United States should be given 10 percent of Intel of Intel.” And he said, “I will consider this,” the President continued. “Intel is left behind, as you know, compared to [Nvidia CEO] Jensen [Huang] And some of our friends. ,
