A look at the chart suggests shares aren't ready to break higher even after President Donald Trump announced the U.S. would take a 10% stake.
Just five months into his tenure as Intel's CEO, Lip-Bu Tan was fighting for his job. Getting to a truce with the president was a two-week roller-coaster ride.
The Chips Act wasn't about raising revenue, and an equity share wouldn't enhance national security.
U.S. President Donald Trump is injecting nearly $9 billion into Intel in exchange for a 9.9% equity stake. But the money - which the struggling chipmaker was slated to receive anyway under a federal funding act - will not be enough for its contract-chipmaking business to flourish, analysts said.
In the seven months since President Donald Trump's inauguration, Wall Street's major stock indexes have been taken on quite the ride.
Intel (INTC) shares surged Friday, as President Trump said the U.S. government struck a deal giving it a 10% stake in the struggling chipmaker.
Intel Corporation is a national security asset, transitioning from PC-focused chipmaker to foundry services under new CEO Lip-Bu Tan. Government's proposed 10% equity stake and SoftBank investment could provide critical capital relief for debt reduction and turnaround efforts. Fed rate cuts offer near-term relief on revolvers and short-term debt, with refinancing benefits possible if 10-year yields decline.
Commerce Secretary Howard Lutnick said on Friday that the U.S. government has taken a 10% stake in Intel, the embattled chipmaker that is the only American company capable of making advanced chips on U.S. soil.
Here are some of the major companies whose stocks moved on the week's news.
President Donald Trump on Friday said that Intel has agreed to a $10 billion deal with the US government. A deal hasn't been confirmed by Intel.
Intel (INTC) shares surged Friday as President Donald Trump said the struggling chipmaker agreed to allow the U.S. government to take a 10% stake.
Intel Corp. has agreed to the U.S. government taking a stake in the chip maker, President Donald Trump said Friday, not long after he met with the company's chief executive after initially calling for him to resign.