Trump Says ‘I Paid Zero’ For Intel Deal, Touts Win for US

President Donald Trump on Monday claimed credit for what he described as an $11 billion deal with Intel, touting it as a win for the United States that came at no cost to taxpayers.

“I PAID ZERO FOR INTEL, IT IS WORTH APPROXIMATELY 11 BILLION DOLLARS. All goes to the USA,” Trump wrote in a post on Truth Social. “Why are ‘stupid’ people unhappy with that? I will make deals like that for our Country all day long.”

Trump said such agreements strengthen the economy by boosting corporate valuations, creating jobs, and keeping strategic industries inside the U.S. “I will also help those companies that make such lucrative deals with the United States,” he added. “I love seeing their stock price go up, making the USA RICHER, AND RICHER. More jobs for America!!!”

Intel’s stock was up nearly 1.5% in midday trade on Monday despite weakness in the broader market. On Stockwits, retail sentiment around the company trended in the ‘extremely bullish’ zone amid ‘high’ levels of chatter.

Trump’s comments came after the President announced Friday that the U.S. government will take a 9.9% equity stake in Intel by converting outstanding CHIPS Act funding into shares. Under the deal, Washington will acquire 433.3 million shares at $20.47 each—about $4 below Friday’s closing price of $24.80—valuing the stake at $8.9 billion, according to Reuters.

Funding for the purchase will come from $5.7 billion in unpaid Biden-era CHIPS Act grants and $3.2 billion previously awarded under the Secure Enclave program, also launched during President Joe Biden’s term.

The agreement followed a meeting on Friday between Trump and Intel CEO Lip-Bu Tan, after weeks of tension. Earlier this month, Trump had called for Tan’s resignation over alleged conflicts tied to Chinese companies. “He walked in wanting to keep his job, and he ended up giving us $10 billion for the United States. So we picked up $10 billion,” Trump said.

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