Former Chrysler and Residence Depot CEO Bob Nardelli praises President Donald Trump’s daring financial play because the White Home eyes billion-dollar asset gross sales, confronts Intel’s China ties and tackles the housing disaster all on ‘Mornings with Maria.’
The White Home could also be able to take a ten% stake in Intel, fueling ongoing hypothesis an funding is being hammered out, in accordance with Bloomberg.
The transfer would shore up nationwide safety and advance extra chipmaking within the U.S. vs. Asia and different nations.
| Ticker | Safety | Final | Change | Change % |
|---|---|---|---|---|
| INTC | INTEL CORP. | 23.66 | -0.90 | -3.66% |
Intel’s inventory slipped on Monday however has gained 18% this yr, with a few of the advance being fueled by experiences of a authorities funding first reported final week. Shares rose 24% for the week by means of final Friday, the most effective weekly efficiency since January 2000, as tracked by Dow Jones Market Knowledge Group.
The White Home and Intel declined FOX Enterprise’ request for remark.
TRUMP DEMANDS INTEL CEO RESIGN OVER ALLEGED CHINESE COMPANY TIES
Intel CEO Lip-Bu Tan first drew President Donald Trump’s ire after Trump urged him to resign over his ties to China.
“The CEO of INTEL is very CONFLICTED and should resign, instantly. There isn’t a different resolution to this downside,” the president wrote on Fact Social.
President Donald Trump, left, and Intel CEO Lip-Bu Tan. (Getty Pictures / Fox Information)
Within the days following, Tan defended himself in a letter to workers after which met with Trump and his workforce on the White Home, which prompted the president to vary his tune.
Intel CEO Lip-Bu Tan. (Businesswire/Intel)
“I met with Mr. Lip-Bu Tan, of Intel, together with Secretary of Commerce, Howard Lutnick, and Secretary of the Treasury, Scott Bessent. The assembly was a really fascinating one. His success and rise is an incredible story. Mr. Tan and my Cupboard members are going to spend time collectively and convey solutions to me throughout the subsequent week,” he wrote on Fact Social.
Throughout an interview on FOX Enterprise Community’s “Mornings with Maria” final week, Bob Nardelli, the previous CEO of Chrysler and Residence Depot, weighed in on experiences of a deal.
“I feel it is one other proof-positive instance of how President Trump has actually refined the artwork of the deal. It is simply superb what he has performed in reshaping the worldwide economic system,” he mentioned.
Intel had been beneath stress from shareholders over its failure to safe a turnaround. The turmoil price then-CEO Patrick Gelsinger, who attended former President Joe Biden’s State of the Union tackle in 2022, his job in December 2024.
Then-Intel CEO Pat Gelsinger reveals then-President Joe Biden a processor and semiconductor wafer throughout a tour at Intel Ocotillo Campus in Chandler, Arizona, on March 20, 2024. (BRENDAN SMIALOWSKI/AFP by way of Getty Pictures / Getty Pictures)
INTEL’S NEW CEO TASKED WITH TURNING AROUND THE CHIP GIANT
The chipmaker was one of many greatest beneficiaries of the CHIPS and Science Act. Intel obtained $7.86 billion from the Biden administration to assist fund “industrial semiconductor tasks in Arizona, New Mexico, Ohio and Oregon,” in accordance with the corporate. The determine is decrease than the preliminary $8.5 billion federal chips grant that was introduced in March 2024.
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