Bernie Sanders backs Trump’s plan to buy stake in Intel

In a surprising twist, U.S. Senator Bernie Sanders (I-Vt.) has expressed his support for a controversial plan proposed by the Trump administration to acquire a 10 percent stake in Intel. This rare alignment between Sanders and Trump highlights a shared vision for strengthening America's position in the semiconductor industry. Commerce Secretary Howard Lutnick revealed that the initiative involves the U.S. government granting funds from the CHIPS Act only after securing non-voting shares in Intel and potentially other semiconductor companies. Lutnick suggested that this strategy could allow taxpayers to benefit from the government's investment in these crucial tech firms. Sanders emphasized this point, stating, "If microchip companies profit from the substantial grants they receive from the federal government, then American taxpayers deserve a fair return on their investment." While Lutnick has credited Trump for this innovative approach—described by White House Press Secretary Karoline Leavitt as unprecedented in safeguarding national and economic security—it's clear that Lutnick is spearheading the proposal. Insiders, who requested anonymity, indicated that Lutnick has been advocating for this equity strategy, and Trump has shown a favorable disposition towards it. Currently, Intel is in discussions regarding this arrangement, while other major recipients of CHIPS grants, including Taiwan Semiconductor Manufacturing Company (TSMC), Samsung, and Micron, have not yet commented on the matter. There are concerns about potential grant clawbacks if these investment agreements are not finalized. Taiwan's Economy Minister Kuo Jyh-huei mentioned that his ministry plans to engage with TSMC soon, although he admitted that the full implications of Lutnick's statements remain unclear. Lutnick has assured that any agreement would not grant the government voting rights or control over Intel, alleviating worries about U.S. dominance over key chip manufacturers.