President Trump called the government's recent 10% in semiconductor chipmaker Intel a good deal. The administration converted nearly $9 billion in federal grants to the company into Intel stock.

Washington

President Trump has publicly supported the U.S. government's recent decision to acquire a 10% stake in semiconductor manufacturer Intel, calling it a good deal. The stake was obtained by converting almost $9 billion in federal grants into Intel stock, marking a significant government investment in the private sector.

The administration's approach is part of a larger plan to create a sovereign wealth fund, a strategy more commonly seen in countries with substantial natural resources. While similar government interventions occurred during past financial crises, critics argue that such actions misuse taxpayer money and blur the lines between government and private enterprise. President Trump, however, maintains that the move is intended to help American companies remain competitive globally.

Why did Trump back U.S. government stake in Intel?

President Trump today called the government's recent 10% stake in semiconductor chip maker Intel a good deal. The administration converted nearly $9 billion in federal grants to the company into Intel stock. The president said he is looking at similar deals with more companies and to help us understand what's going on. We turn to senior business and technology correspondent Jolene Kent. So Jolene, what did the president say? Why did he say he wanted to make this deal? John, the president said today, basically, I want them to do well. And he added, I want to try and get as much as I can, which raised a lot of questions. But the bigger goal here, according to his economic adviser, Kevin Hassett, is that the White House is in process of creating a sovereign wealth fund established by executive order back in February. Now, doing this is typically more common, of course, in countries like China and the Middle East, even Norway, where they've got access to major natural resources. But similar actions have happened before. You'll remember during the financial crisis, the U.S. government took stakes in Fannie Mae and Freddie Mac, and they stepped in to bail out Chrysler and General Motors from collapse. But it's important to note here this is potentially the first of many deals, and it's a $9 billion stake. It's the remainder of the CHIPS Act money under President Biden. And the Biden administration originally said Intel had to meet certain goals to get this taxpayer money. But now President Trump has removed those goals to buy this stake in Intel, driving up the stock, John. And Jolene, what is the what are the arguments against doing this when it's not an emergency? Well, true free market advocates and traditional conservatives say it's not good to mix church and state, if you will, to have, you know, a large corporation like Intel tied up with the U.S. government. Their argument is that this misuses taxpayer money. It essentially ties it to the fame or fortune or the fall of a major company. And that is irresponsible. But President Trump says he sees an opportunity and he says he's trying to help these companies maintain a global advantage. But certainly a lot of free market advocates out there saying this is a red flag. This is not a good idea.

Strikes on the Nasser hospital in Gaza that left at least 20 people dead, including rescuers, journalists and health-care workers are being met with global outrage. The Israeli military is investigating what Israel Prime Minister Benjamin Netnayahu called a ‘tragic mishap.’

Middle East Conflict

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Baltimore

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Kyiv

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U.S. President Donald Trump says Chicago could be the next city to see National Guard deployment, sparking strong opposition from Mayor Brandon Johnson and Governor JB Pritzker, who argue crime is already falling and federal intervention is unnecessary.

Chicago

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Jerusalem

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U.S. National Guard troops patrolling the streets of Washington D.C. as part of what President Donald Trump said was his crackdown on crime began carrying weapons on Sunday night, two officials said.

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A defiant Ukraine marked its independence from the former Soviet Union Sunday amid more fighting with Russia. Chris Livesay reports on how world leaders joined in, voicing their support.

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Maryland

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Los Angeles

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Las Vegas

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Texas Republicans took a victory lap after an early morning vote Saturday that sought to give their party an edge during the 2026 midterms. Democrats in Texas plan to challenge the legality of the new congressional map, saying it dilutes the power of minorities.

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Israel has called the United Nations' declaration of famine in parts of Gaza an "outright lie," but multiple U.N. bodies, more than 100 humanitarian groups, and several of Israel's own allies have warned for months that the war is causing starvation among civilians.

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Bethesda

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Kilmar Abrego Garcia, the Maryland construction worker deported to El Salvador and then returned to the U.S. on smuggling charges, has been released from prison in Tennessee, his attorneys say.

Nashville

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Russia carried out one of its largest aerial attacks of the year on Ukraine. The strikes killed at least one person and injured 15, marking Russia’s third-largest drone attack and eighth-largest missile assault this year.

Breakdown