U.S.Government Buys 10% Stake in Intel.
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Donald Trump said the US owns part of Intel. The US now controls 10% of the big company. This is a big change for the American company Intel.
The US got the Intel shares through money already promised. The government gets many shares at a cheaper price. This means the US already makes about two billion dollars.
Intel is working to improve its company. The company will also let go of many workers. The current CEO, Lip-Bu Tan, had past concerns about China.
Trump first wanted Tan to leave his job. But, Tan showed his loyalty to the US. Trump now supports Tan and thinks Intel will get better.
Some people think this deal is not good for the tech business. Other companies may feel forced to work with Intel. The government owned shares in a company before, during a recession.
Questions
What percentage of Intel does the US control now?
The US controls 10% of Intel.
How much money does the US make from Intel shares?
The US already makes about two billion dollars.
Who is the current CEO of Intel?
The current CEO of Intel is Lip-Bu Tan.
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