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US government takes 10% stake in Intel

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Commerce Secretary Howard Lutnick announced the federal government has taken a 10% stake in chipmaker Intel.

Intel officials said in a news release that the federal government purchased $8.9 billion worth of the company's stock.

Within the investment total, $5.7 billion comes from grants under the CHIPS Act that had been awarded but not paid.

Read more from CNBC.

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