Intel Corp. (INTC) Falls 7% on Increasing Govt Interference

We recently published 10 Stocks Crash as AI Glow Fades. Intel Corporation (NASDAQ:INTC) is one of Wednesday’s worst performers.

Intel Corp. saw its share prices drop by 6.99 percent on Wednesday to finish at $23.54 apiece over concerns about the US government’s increasing interference in private companies.

This came after President Donald Trump announced that the US government was keen on supporting the beleaguered company with financial backing through the CHIPS Act funds, in exchange for a 10-percent stake in the company.

Commenting for the US government, Commerce Secretary Howard Lutnick said the equity funding was “not governance.”

“We’re just converting what was a grant under Biden into equity for the Trump administration, for the American people. Nonvoting,” he said.

The financial support followed a meeting between Intel Corporation (NASDAQ:INTC) CEO Lip-Bu Tan and President Donald Trump earlier this month after the latter criticized the company’s chief for his nationality and alleged threats to national security.

According to Trump, his meeting with Tan turned out well, saying that he was inspired by his rising story.

In a bid to claw back to profitability, Intel Corporation (NASDAQ:INTC) embarked on a corporate restructuring plan that included the reduction of a significant chunk of its workforce, exiting businesses, and selling stakes at a discount—the latest being a $2-billion share sale to Japan-based SoftBank.

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