The United States invests $8.9 billion to acquire 10% of Intel

The US government already owns 10% of Intel, US President Donald Trump confirmed on the social network Truth Social on Saturday.

At Truth Social, Donald Trump called it a “great honor” for the United States to “own and control” 10% of Intel, a “great American company” that will now have “an even more incredible future.”

The American executive's investment amounts to $8.9 billion for 9.9% of Intel, according to Reuters . This equates to a payment of $20.47 per share, a $4 discount compared to Friday's closing price of $24.80.

Reuters reports that the US government's purchase of 433.4 million Intel shares will be made through funding of $5.7 billion in unpaid subsidies through the Chips Act, a program created under the Joe Biden administration, and $3.2 billion that was granted to Intel through the 'Secure Enclave' program, which also comes from the Joe Biden administration.

At the close of Friday's trading session, Intel shares were up 5.5% and this Monday, in pre-market trading, they are up 2%.

The North American executive had also already admitted to entering more companies in the chip sector, in addition to Intel.