Commerce Secretary Howard Lutnick told CNBC the U.S. government wants a stake in Intel in exchange for CHIPS Act grant money promised under Biden.

US commerce secretary Howard Lutnick has said that Intel must give the US government an equity stake if the company wants to receive its CHIPS and Science Act funding.

Lutnick just laughed it off, indignantly pointing out that “we were just giving away the money” under the previous terms of the CHIPS Act. But the legality of any equity stake would likely be challenged by both Intel shareholders and competitors in the industry, according to the Times.

US Commerce Secretary Howard Lutnick says Trump wants a 'good return' for American taxpayers. Subsidies under the CHIPS Act are 'just a giveaway to rich companies,' he argues.

The Commerce secretary outlined a plan to blend the private and public sectors but denied it represents "state capitalism."

U.S. Commerce Secretary Howard Lutnick is weighing whether the federal government should take equity stakes in semiconductor companies receiving CHIPS Act funding to build factories in the United States, Reuters reported, citing two people familiar with the matter.

Commerce Secretary Howard Lutnick said he’d support consolidation as a means to make the US freight rail industry more efficient, a potential boost for Union Pacific Corp.’s $72 billion takeover of Norfolk Southern Corp.

U.S. Commerce Secretary Howard Lutnick is looking into the government taking equity stakes in Intel as well as other chip companies in exchange for grants under the CHIPS Act that was meant to spur factory-building around the country,

Senate Finance Committee ranking member Ron Wyden (D-Ore.) and Banking Committee ranking member Elizabeth Warren (D-Mass.) have warned Cantor Fitzgerald & Co., a finance firm linked to Commerce Secretary Howard Lutnick,