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You are currently viewing Nvidia And Intel Lead Tech Stock Drop As White House Reportedly Seeks Equity For CHIPS Grants

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A broader decline for tech stocks was headlined by Nvidia, Intel and Palantir during intraday trading Wednesday, following a report the Trump administration may seek equity in firms receiving federal grants under the Biden-era CHIPS Act.

Key Facts

Commerce Secretary Howard Lutnick is considering a plan in which the U.S. will gain equity stakes in chipmakers in exchange for grants given to them under the CHIPS Act, according to Reuters.

It’s not immediately clear how much of a stake the U.S. would seek in these companies.

Lutnick said late Tuesday the U.S. was eyeing a stake in Intel, after White House Press Secretary Karoline Leavitt earlier said the Trump administration was in discussions to potentially acquire 10% equity, valued at roughly $10.4 billion, that could make the U.S. the chipmaker’s largest shareholder.

The U.S. may expand its equity requests to other companies that are set to receive CHIPS Act funds, including Micron, TSMC and

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