Donald Trump aims to make more deals like Intel 10% stake acquisition, says ‘love seeing their stock price go up…’

“I will make deals like that for our Country all day long,” said President Donald Trump in a recent post on Truth Social. 

President Trump said that he ‘loves’ looking at the stock prices of the companies surge after an announcement. He also called this as a move to make US richer and provide more jobs in the nation.

“I love seeing their stock price go up, making the USA RICHER, AND RICHER. More jobs for America!” said Trump in his post, cited the news agency.

Trump also said that he will help the companies to make similar ‘lucrative’ deals with the United States federal government. However, he did not provide any details for any upcoming potential deals. 

Intel’s deal with US federal government

According to an earlier Bloomberg report, President Donald Trump announced that Intel’s Chief Executive Officer (CEO) Lip-Bu Tan has agreed to hand over a 10% stake in Intel or an equivalent of nearly $10 billion.

Trump told the reporters at the White House that this transaction between Intel and the federal government is a ‘great deal’ for the chipmaker.

“They’ve agreed to do it and I think it’s a great deal for them,” Donald Trump told the White House reporters. “That’s about $10 billion,” he said last week on Friday.

Trump also earlier said that the proposed deal with the US federal government would revitalise Intel’s position against its competitors in the chipmaking industry. 

Intel’s transaction details

According to the Reuters report, the US government will purchase a 9.9% stake in Intel for $8.9 billion, or $20.47 per share, which represents a $4 discount from Intel’s closing price after Friday’s Wall Street session.

The company receiving the funds from the US government aims to use the proceeds to build and expand factories in the United States.

The Trump administration will purchase 43.33 crore shares in Intel by using the $5.7 billion in unpaid grants from the Biden-era CHIPS Act, and the remaining $3.2 billion will be funded through the Secure Enclave program of the previous ruling Joe Biden-led administration, according to the agency report.