Story perspectives

Shareholders Sue Intel Board Over Chips Act Authority

8/29/2026

Summary

Story summary

Shareholders sued Intel’s board, the Commerce Department and Secretary Howard Lutnick, claiming the Chips Act lacks authority.
Intel shares rose over 300% in the year after reports of a U.S. President Donald Trump’s administration ownership stake.
MP Materials Corp. gained 87% since the Department of Defense invested $400 million equity last July.
Democratic Senator Elizabeth Warren wrote to Lutnick questioning the Intel investment and possible hearings.

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Story summary

Shareholders sued Intel’s board, the Commerce Department and Secretary Howard Lutnick, claiming the Chips Act lacks authority.
Intel shares rose over 300% in the year after reports of a U.S. President Donald Trump’s administration ownership stake.
MP Materials Corp. gained 87% since the Department of Defense invested $400 million equity last July.
Democratic Senator Elizabeth Warren wrote to Lutnick questioning the Intel investment and possible hearings.