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Intel Surges 7% on Reports of Potential U.S. Govt Stake
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Intel (INTC.US) shares surged over 7% late Thursday as the U.S. government is reportedly exploring taking a stake in the company to ramp up its efforts to increase domestic production. The proposal could accelerate the delayed construction of Intel's Ohio plant, Bloomberg reported, citing sources. The concept reportedly originated from a recent meeting between the US President Donald Trump and Intel CEO Lip-Bu Tan, but negotiations regarding the investment are still in the early stages. AASTOCKS Financial News Website: www.aastocks.com |
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