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Trump Slams CHIPS Act Despite Past Intel Investment

11/30/2025

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Summary

Story summary

March 2025, U.S. President Donald Trump criticized the CHIPS and Science Act of 2022, calling it a 'horrible, horrible thing.'
The CHIPS Act, passed under President Joe Biden, aimed to boost semiconductor production with $52 billion.
Trump's administration later used CHIPS funds to buy a 10% stake in Intel, partially nationalizing the company.
The move relieved Intel of its obligations to complete new factories and shifted financial risks to taxpayers.

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Story summary

March 2025, U.S. President Donald Trump criticized the CHIPS and Science Act of 2022, calling it a 'horrible, horrible thing.'
The CHIPS Act, passed under President Joe Biden, aimed to boost semiconductor production with $52 billion.
Trump's administration later used CHIPS funds to buy a 10% stake in Intel, partially nationalizing the company.
The move relieved Intel of its obligations to complete new factories and shifted financial risks to taxpayers.