Intel stock is spiking
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The Trump administration is in talks with Intel Corp. to have the US government take a stake in the beleaguered chipmaker, according to people familiar with the plan, in the latest sign of the White House’s willingness to blur the lines between state and industry.
Despite the rocky relationship between President Donald Trump and CEO Lip-Bu Tan, the government is reportedly eyeing a stake in Intel.
President Trump had urged CEO Lip-Bu Tan to step down over his past ties with China. But the narrative flipped last week after a highly positive White House meeting
The deal talks follow President Trump’s public call for the replacement of CEO Lip-Bu Tan over his ties to Chinese businesses.
The 65-year-old technology and venture capital industry veteran has amassed a fortune worth at least $1.1 billion, according to the Bloomberg Billionaires Index, which is calculating Lip-Bu Tan’s net worth for the first time.
Intel has had some recent struggles in delivering results for its shareholders, but the company could soon be answering to an additional boss.
Warren Buffett’s Berkshire Hathaway (BRK.B) sold shares in Apple (AAPL) last quarter, [while adding UnitedHealth](https: