The Journal.

Inside Intel's Deal With the U.S. Government

85 snips
Aug 27, 2025
Robbie Whelan, a reporter for The Wall Street Journal, unpacks Intel's groundbreaking deal with the U.S. government, detailing how the government acquired a 10% stake during a tumultuous period for the chip maker. He shares insider insights from the Oval Office meeting, highlighting the intersection of corporate strategy and political pressures. Whelan discusses the implications of this deal for the tech industry, the challenges facing Intel's CEO, and the broader effects on American manufacturing and government partnerships.
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ANECDOTE

TV Sparked A Presidential Attack

  • President Trump publicly demanded Intel CEO Pat Gelsinger resign after watching a TV segment about Tom Cotton's letter.
  • The public call triggered panic at Intel and forced the company to seek a direct Oval Office meeting.
ANECDOTE

CEO's Oval Office Pitch

  • Intel CEO Patrick (Lip) Tan flew to the Oval Office and framed his China ties as past business success.
  • Tan pledged loyalty to Trump's manufacturing agenda and the meeting ended with the president backing off demands for his resignation.
INSIGHT

Government Wanted More Than Grants

  • The Trump administration sought to redo CHIPS Act deals to extract greater commitments and taxpayer returns.
  • Howard Lutnick and team pushed converting grant support into an equity stake so the government would share upside if Intel recovered.
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