Can someone explain to me what the US gets out of this, even in his brain? Even if it’s upheld as legal, we have no control here, no governance role, no seat on the board. He’s basically just using taxpayer money to buy a ton of stock, gambling on the market.
Taking a page from Putin's playback again. en.wikipedia.org/wiki/State-o....
*playbook
The Republicans are embracing socialism to further their authoritarianism… But like having a public option is too much…
I presume, like the plane, he gets to keep it when he leaves office.
He Is The State, so I'm sure he thinks he just made 10 billion.
L'État, c'est moi
That's why it's fascist and not communist, fascists take for themselves.
It's a lot of value to a person, $11 billion is a lot of money, but it's a rounding error for the US and I just don't think he gets that?
Shoring up a domestic supplier of semiconductors
He’s trying to cobble together a Saudi-style sovereign wealth fund. This is his conception of running the country like a business, specifically a hedge fund, where he’s out there making deals
It’s protection money. It’s a threat to every other company out there. Comply or else.
Wait no this is Bernie Moreno’s fault
How is this not a slam-dunk shareholder lawsuit
they've just been diluted 10% for nothing but government interference
owning things gud
You can’t tell me there’s no control when Trump just bullied the company into giving away 10% of itself. They don’t want voting rights because they don’t need them. That’s a nice government grant you have there. It’d be a shame if something happened to it.
Shareholder meetings are quaint. It’s more effective to issue demands.
Not only do we get nothing, Intel is basically in a death spiral. Its foundry arm has no big customers and is in serious trouble. It’s steadily losing ground to AMD in CPUs. Its GPU arm is still barely capturing market share and is very narrowly aimed at the budget gaming community.
Imagine wasting tax payer dollars to the tune of billions on this heap of crap.
He's still trying to start a sovereign wealth fund so he can be just like Saudi Arabia
Countries with taxation authority over gigantic, well-developed, diversified economies should not ever bother with a wealth fund. There is no benefit whatsoever. It's impossible to think of a country that a SWF is more useless for than the United States.
He says they paid nothing for them and they're now valued at $11 billion so in his brain what the US gets out of this is an asset worth eleven billion dollars
I think they see a successful American chipmaker as strategically important in geopolitical competition with China.
My first thought was he gets to establish a favored business in an industry, which lines up with his tendency to play favorites. But that doesn’t account for his nvidia deal, unless he’s playing various sides of the market (nvidia for ai, intel for compute? or workstations?)