Lip-Bu Tan sells out Intel to Trump for an Ohio handout

Bloomberg reports that the Trump administration is considering purchasing Intel shares to support the company's domestic semiconductor manufacturing expansion efforts. Early-stage discussions about this potential government investment may not result in actual funding for the chipmaker. The proposed investment would assist Intel's delayed Ohio manufacturing facility, which management expects to commence commercial operations sometime during the 2030s. President Trump met with Intel CEO Lip-Bu Tan this week and praised the executive's achievements after previously characterizing him as a national security threat requiring removal. Tan's corporate turnaround strategy emphasizes process technology advancement and market share recovery, while Intel reduces its workforce by fifteen percent from 99,500 employees and closes manufacturing plants in Germany and Poland, following previous cuts of 15,000 jobs in both 2023 and 2024 as shares gained over seven percent in regular trading plus two percent in extended sessions.