Intel CFO confirms receipt of $5.7 billion from US government

Chip-making firm Intel has revealed it received $5.7 billion as part of the deal negotiated with the US government to acquire a 10% stake in the ￰0￱ finance officer David Zinsner revealed at an investor conference on Thursday that the struggling chip-making firm received the grant on Wednesday ￰1￱ CFO confirms receipt of the funds Commerce Secretary Howard Lutnick last Friday revealed that the US government had taken a 10% stake in Intel, the Trump administration’s latest effort to exert control over corporate ￰2￱ added that the agreement would strengthen the US’s leadership in ￰3￱ also said the move was an incentive for Intel to retain control of its contract manufacturing business, or foundry.

“This was a quick way to getting, initially, $5.7B in the door,” said Zinsner during a fireside chat at Deutsche Bank’s 2025 Technology Conference in Dana Point, Calif. “By the way, we have received ￰4￱ got it last ￰5￱ that’s on the balance ￰6￱ that was one thing that eliminated the need to access the capital markets in any other way in the near term.” ￰7￱ part of the deal, the Trump administration negotiated an additional 5% warrant in the event Intel ceases to own more than 51% of its foundry operation. “I don’t think there’s a high likelihood that we would take our stake below 50%,” Zinsner said, adding that “so ultimately, I would expect (the warrant) to expire worthless.” The embattled chip-making firm has previously indicated that it could take outside investment in the foundry business and has established a separate management board to govern ￰8￱ the event that the company does so, Zinsner said Intel was leaning towards a strategic investor versus a financial one, though the company is “years away from that.” Last month, Intel revealed that the future of its foundry business depended on getting a big customer for its next-generation manufacturing process known as ￰9￱ the event that it failed to secure one, it could leave the foundry business ￰10￱ the Thursday investor conference, Zinsner downplayed the potential risk to its foundry.

“The lawyers are always looking for areas where we should be elaborating in terms of our risks,” he ￰11￱ NEWS: The United States of America now owns 10% of Intel, one of our great American technology ￰12￱ historic agreement strengthens ￰13￱ in semiconductors, which will both grow our economy and help secure America’s technological ￰14￱ to Intel… ￰15￱ — Howard Lutnick (@howardlutnick) August 22, 2025 US government says it is still working on the deal White House Press Secretary Karoline Leavitt also on Thursday gave a different picture, suggesting the deal was not yet final as there were areas that were still being “ironed out by the Department of Commerce.” “The t’s are still being ￰16￱ i’s are still being ￰17￱ – you know – it’s very much still under discussion.” ￰18￱ added that the President proposed the deal, and the Commerce Secretary was working on its ￰19￱ asked to elaborate, a White House official revealed that the Intel deal, namely a $3 billion Secure Enclave award from the Department of Defense, was not fully ￰20￱ was, however, not clear if Leavitt’s sentiments suggested the deal could still be revised in some ￰21￱ $5.7 billion is part of the company’s share of the US CHIPS and Science Act ￰22￱ the agreement, the US government is buying 433.3 million shares at $20.47 ￰23￱ to Seeking Alpha , Intel had already received $2.2 billion in grants from CHIPS at an earlier ￰24￱ additional $3.2 billion will come from the Secure Enclave program through the US Department of Defense, elevating the total investment to $11.1 ￰25￱ this month, Intel raised $2 billion from SoftBank Group in the form of an equity ￰26￱ part of its restructuring exercise under the leadership Lip-Bu Tan, the company seeks to slash its workforce to 75,000.

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