“They’ve agreed to do it, and I think it’s a great deal for them,” Trump told reporters.
The administration has been weighing taking a stake in the struggling American chipmaker, pulling from previously allocated funding, Commerce Secretary Howard Lutnickconfirmed earlier this week.
Trump offered some details Friday on how the agreement came about after he initially called on Intel CEO Lip-Bu Tan to resign earlier this month.
He pointed to concerns raised by Sen. Tom Cotton (R-Ark.) about Tan’s investments in Chinese companies and his previous role as CEO of Cadence Design Systems, which recently pleaded guilty to violating export controls by selling chip design technology to a Chinese military university.
“I said, ‘Well that’s right he should resign,’” Trump said. “And he came in, he saw me, we talked for a while. I liked him a lot. I thought he was very good. I thought he was somewhat a victim, but, you know, nobody’s a total victim, I guess.”
“And I said, ‘You know what? I think the United States should be given 10 percent of Intel.’ And he said, ‘I would consider that,’” the president continued. “Intel has been left behind, as you know, compared to [Nvidia CEO] Jensen [Huang] and some of our friends.”
How policy will be impacting the tech sector now and in the future:
Nvidia in ‘dialogue’ with US government on next-gen chip sales to China
Nvidia CEO Jensen Huang said Friday the company is “in dialogue” with the U.S. government about selling next-generation AI chips to China. “Offering a new product to China for the AI data centers, the follow on to H20, that’s not our decision to make,” Huang told reporters in Taiwan on Friday. “It’s up to, of course, the United States government. And we’re in dialogue with them. But it’s too soon to know.” His comments …
Trump says he may extend TikTok ban deadline again
President Trump suggested Friday that he may once again extend the deadline for TikTok’s parent company to divest from the popular video-sharing app or face a U.S. ban. For months, Trump has sought to strike a deal to keep TikTok available in the U.S., pushing back the deadline three separate times. The latest extension is set to expire Sept. 17. “We have American buyers,” he told reporters Friday. “And I haven’t spoken to …
Schools, parents face teen mental health crisis with fear of students turning to AI therapists
Schools grappling with teen mental health problems face new challenges keeping their students safe in the age of artificial intelligence (AI). Studies show AI has been giving dangerous advice to people in crisis, with some teenagers reportedly pushed to suicide by the new technology. But many students lack access to mental health professionals, leaving them with few options as schools and parents try to push back on the use …
News we’ve flagged from the intersection of tech and other topics:
Elon Musk wanted Mark Zuckerberg to join OpenAI bid, court filing says (Wall Street Journal)
Google scores six-year Meta cloud deal worth over $10 billion (CNBC)
In Other News
Branch out with other reads on The Hill:
As AI becomes part of everyday life, it brings a hidden climate cost
Marissa Loewen first started using artificial intelligence in 2014 as a project management tool. She has autism and ADHD and said it helped immensely with organizing her thoughts.
