Intel (INTC) shares surged Friday, as President Trump mentioned the U.S. authorities struck a deal giving it a ten% stake within the struggling chipmaker.
“This can be a nice Deal for America and, additionally, an incredible Deal for INTEL,” Trump posted on his Fact Social community Friday.
“Constructing forefront Semiconductors and Chips, which is what INTEL does, is key to the way forward for our Nation,” Trump added.
The passive possession stake, which is price roughly $11.1 billion, is being funded by a mix of paid and never but paid CHIPS Act awards, Intel mentioned in an announcement.
“President Trump’s deal with U.S. chip manufacturing is driving historic investments in a significant business that’s integral to the nation’s financial and nationwide safety. We’re grateful for the arrogance the President and the Administration have positioned in Intel, and we stay up for working to advance U.S. know-how and manufacturing management,” Intel CEO Lip-Bu Tan mentioned.
Intel shares surged over 5% throughout Friday’s session amid anticipation of a deal after Bloomberg reported an announcement can be coming quickly, and because the broader market rallied on expectations of an rate of interest lower in September. The inventory climbed one other 1% in prolonged buying and selling.
With Friday’s positive factors, shares of Intel have added practically one-quarter of their worth in 2025.
This text has been up to date because it was first printed to replicate more moderen developments and share worth values.
