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U.S. takes 10% stake in Intel as Trump flexes more power over big business (www.nbcnews.com)
submitted 1 year ago by to c/technology@lemmy.world
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Trump tweet:

It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future. I negotiated this Deal with Lip-Bu Tan, the Highly Respected Chief Executive Officer of the Company. The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation. MAKE AMERICA GREAT AGAIN! Thank you for your attention to this matter.

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[–] 2 points 1 year ago (4 children)

I don't understand why they would want to build in the US? There's plenty of places with cheaper labour.

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  • [–] 12 points 1 year ago (2 children)

    In case of war the country needs national supply of chips to put in rockets, planes, everything really.

    If you make everything in Taiwan and that's the place that's getting blockaded by enemy Navy...

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  • [–] 5 points 1 year ago

    Because Biden paid them with grants to build in the US. It's that simple.

    Beyond that there's stability and the likelihood of not being invaded or facing natural disasters.

    There's meant to be government, legal, and financial institution stability too.

    As well as intellectual property defense, trade secrets and NDAs.

    Material supplies are meant to be stable too.

    When you're investing in something as specialised as chip manufacturing, labour is a fraction of your concern. Both short and long term.

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