‘I PAID ZERO FOR INTEL’: Donald Trump touts landmark deal as White House advisor signals more to follow

The investment will be financed partly through CHIPS Act grants and partly through additional government programs backing secure domestic chip production.

US President Donald Trump on Monday boasted about the White House’s newly announced stake in Intel, calling it a landmark deal for the United States. “I PAID ZERO FOR INTEL, IT IS WORTH APPROXIMATELY 11 BILLION DOLLARS. All goes to the USA,” Trump wrote in a social media post. “Why are ‘stupid’ people unhappy with that? I will make deals like that for our Country all day long… More jobs for America!!! Who would not want to make deals like that?”

The President’s comments followed Friday’s announcement that the federal government would acquire a 10% share in the semiconductor giant, a transaction valued at $8.9 billion. The investment will be financed partly through CHIPS Act grants and partly through additional government programs backing secure domestic chip production.

National Economic Council Director Kevin Hassett emphasised that the administration will not intervene in Intel’s operations but noted that the deal reflects a broader economic vision. “The President has long said the U.S. should pursue a sovereign wealth fund, and this is a step in that direction,” Hassett said in an interview with CNBC’s Squawk Box. “I fully expect there will be more such transactions, whether in this industry or others.”

Trump signed an executive order in February authorising the creation of a sovereign wealth fund, an approach more commonly associated with countries such as Norway, China, and Gulf states that use such funds to invest resource revenues. Norway’s fund is the largest in the world, valued at about $1.8 trillion.

While unusual for the U.S., Hassett noted that federal ownership stakes in private firms are not without precedent, citing the post-2008 bailouts of Fannie Mae and Freddie Mac. “We are absolutely not in the business of picking winners and losers,” he said. “But this kind of step is not unprecedented.”

Hassett added that the Intel deal fits into a wider policy framework that also includes tariffs and incentives to encourage companies to expand manufacturing in the United States.