President Donald Trump’s Commerce Secretary Howard Lutnick is celebrating the agreement made between the federal government and the American semiconductor manufacturing company Intel. (In exchange for investing $8.9 billion in Intel, the U.S. government will receive 10 percent stake of the company.)
On social media, along with a photo of him with Intel CEO Lip-Bu Tan, Lutnick wrote: “BIG NEWS: The United States of America now owns 10% of Intel, one of our great American technology companies. This historic agreement strengthens U.S. leadership in semiconductors, which will both grow our economy and help secure America’s technological edge. Thanks to Intel CEO @LipBuTan1 for striking a deal that’s fair to Intel and fair to the American People.”
BIG NEWS: The United States of America now owns 10% of Intel, one of our great American technology companies.
This historic agreement strengthens U.S. leadership in semiconductors, which will both grow our economy and help secure America’s technological edge.
Thanks to Intel… pic.twitter.com/AYMuX14Rgi
— Howard Lutnick (@howardlutnick) August 22, 2025
U.S. Congressman Thomas Massie (R-KY) responded to Lutnick: “Our government should not have ownership in private companies. There are so many specific problems with an arrangement like this, but fundamentally, this is not who we are as a country.”
When one X user replied to Massie that “at some point it becomes necessary when every other government is going to do it,” the Congressman replied with sarcasm, “Beating communism by employing communism. Sounds like a great plan.”
Massie isn’t the only Republican who is against the intervention. U.S. Senator Thom Tillis (R-NC) responded to Trump’s proposed 10% stake in Intel: “I don’t care if it’s a dollar or a billion dollar stake in an American company, that starts feeling like a semi-state owned enterprise, à la CCCP.”
Tillis added, “For so many of my self-described true conservatives, you’re going to have to explain to me how this reconciles with true conservatism and true free market capitalism. I don’t see it.”
Sen. Tillis on Trump’s 10% stake in Intel: “I don’t care if it’s a dollar or a billion dollar stake in an American company, that starts feeling like a semi-state owned enterprise, à la CCCP…You’re going to have to explain to me how this reconciles with free market capitalism.” pic.twitter.com/7OeJ7eE93Z
— Republican Accountability (@AccountableGOP) August 21, 2025