That's where the comparison with the auto bailout in the wake of the financial crash falls apart.

Intel got no bailout. The government demanded 10% of the company for financial grants that Intel already received, largely under the Biden administration, under vehicles like the CHIPS act (you know -- the massively successful policy that is the actual reason that a bunch of latest tech chip plants are being built in the US). It's an absolutely bizarre situation, and the only reason Intel would even go along with it is that this administration operates like an extortion racket and would somehow cripple the company otherwise.

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_DeadFred_ 3 days ago | parent | next [-]

Hope Intel doesn't really need the 20%+ of profits that come from China, because the Intel/China/USA relationship just got really weird.

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neuronexmachina 3 days ago | parent | prev [-]

Is this even legal? As far as I can tell, there's no provision in the CHIPS Act allowing grant funds to be used to buy equity.

	▲	Tostino 3 days ago \| parent [-]
		Very little this admin does is legal. You need the justice system to actually work for that to matter though. So in effect, unless the next administration runs on punishing these abuses and actually follows through, may as well be legal.