&imwidth=800&imheight=600&format=webp&quality=medium "'Why are stupid people unhappy?': Trump insists he ‘paid zero’ in $9bn Intel deal despite critics’ fury")
US President Donald Trump on Monday (August 25) defended his administration’s multi-billion-dollar agreement with Intel, insisting he had “paid zero for Intel,” even though the deal saw the US government invest nearly $9 billion into the technology giant. “I paid zero for Intel, it is worth approximately $11 billion,” Trump wrote on his Truth Social platform. “All goes to the USA. Why are ‘stupid’ people unhappy with that? I will make deals like that for our country all day long,” he added.
What does the deal involve?
The agreement was finalised last week, with the government taking $8.9 billion worth of Intel shares. Combined with a previous $2.2 billion investment under the CHIPS Act three years ago, the US now holds an $11.1 billion stake in the company. The equity stake amounts to 433.3 million Intel shares at $20.47 per share, giving the government a 9.9% holding.
Intel’s reaction to the government stake
Intel CEO Lip-Bu Tan praised the deal, saying, “President Trump’s focus on U.S. chip manufacturing is driving historic investments in a vital industry that is integral to the country’s economic and national security. We are grateful for the confidence the President and the Administration have placed in Intel, and we look forward to working to advance US technology and manufacturing leadership.”
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Why are critics opposed?
Not everyone has welcomed the deal. Scott Linicome of the Cato Institute branded it “antithetical to American greatness” and a “terrible decision,” warning it could create “real harms for U.S. companies.” Critics argue the arrangement risks pushing corporate decisions away from market logic and deeper into politics.
Trump brushed off the criticism, saying there were no downsides, “I will also help those companies that make such lucrative deals with the United States. I love seeing their stock price go up, making the USA richer and richer. More jobs for America! Who would not want to make deals like that?”
Market reaction and other deals
Intel’s stock rose by 3% early on Monday before dipping later in the day after Trump publicly celebrated the share price boost. This is not the first time the administration has intervened in major industries. Earlier this month, Washington struck deals with Nvidia and AMD to take a 15% cut of certain chip sales to China, while also receiving a “golden share” in the new company formed by the merger of US Steel and Nippon Steel, a move that gives the government power to appoint a board member and weigh in on strategic decisions.
