The United States government will take a 10 percent stake in Intel under an agreement with the struggling chipmaker, President Donald Trump has said, marking the latest extraordinary intervention in corporate affairs.
The US agreed to purchase a 9.9 percent stake in Intel for $8.9bn at a price of $20.47 a share, which is a discount of about $4 per share from Intel’s closing share price of $24.80 on Friday.
The government will buy the 433.3 million shares with funding from the $5.7bn in unpaid CHIPS Act grants and $3.2bn awarded to Intel for the Secure Enclave program.
Intel shares dropped 1.2 percent in extended trading on Friday.
Trump is set to meet CEO Lip-Bu Tan later on Friday, a White House official said.
The development follows a meeting between CEO Lip-Bu Tan and Trump earlier this month that was sparked by Trump’s demand for the Intel chief’s resignation over his ties to Chinese firms.
“He walked in wanting to keep his job, and he ended up giving us $10bn for the United States,” Trump said on Friday.
Commerce Secretary Howard Lutnick said on X that the deal had been completed. “The United States of America now owns 10% of Intel,” he wrote, saying Tan had struck a deal “that’s fair to Intel and fair to the American People.”
While Trump did not provide details on the $10bn, the equity stake is about equal to the amount Intel is set to receive in CHIPS Act grants from the government to help fund the building of chip plants in the US.
Change in direction
The move marks a clear change of direction and also follows a $2bn capital injection from SoftBank Group in what was a major vote of confidence for the troubled US chipmaker in the middle of a turnaround.
Federal backing could give Intel more breathing room to revive its loss-making foundry business, analysts said, but it still suffers from a weak product roadmap and challenges in attracting customers to its new factories.
Trump, who met Tan on August 11, has taken an unprecedented approach to national security. But critics worry Trump’s actions create new categories of corporate risk.
The US president has pushed for multibillion-dollar government tie-ups in semiconductors and rare earths, such as a pay-for-play deal with Nvidia and an arrangement with rare-earth producer MP Materials to secure critical minerals.
Tan, who took the top job at Intel in March, has been tasked to turn around the US chipmaking icon, which recorded an annual loss of $18.8bn in 2024 — its first such loss since 1986. The company’s last fiscal year of positive adjusted free cash flow was 2021.
Ten days of “brutal” attacks by Sudan’s paramilitary Rapid Support Forces (RSF) have left at least 89 people dead in the western region of Darfur, the United Nations High commissioner for human rights says.
Since April 2023, Sudan has been torn apart by a power struggle between army chief Abdel Fattah al-Burhan and Mohamed Hamdan Daglo, commander of the rival RSF. The fighting has killed tens of thousands.
North Darfur’s besieged capital, el-Fasher, has been under siege by the RSF since May last year.
The recent RSF attacks occurred between August 11 and August 20 in el-Fasher and the nearby Abu Shouk displacement camp, Jeremy Laurence, a spokesperson for commissioner Volker Turk, said in a Geneva press briefing on Friday.
“Brutal attacks by the RSF … resulted in the killing of at least 89 civilians over a 10-day period up to August 20”, the UN human rights office said.
“We fear the actual number of civilians killed is likely higher”, Laurence added. He said such attacks were unacceptable and had to cease immediately.
The dead include at least 57 people who were killed in attacks on August 11 and another 32 killed between August 16-20, Laurence said.
“We are particularly horrified that among the most recent spate of civilian killings, 16 appear to have been cases of summary executions”, he added.
Among the dead were civilians from the African Zaghawa tribe and one from the African Berti tribe.
“This pattern of attacks on civilians and wilful killings, which are serious violations of international humanitarian law, deepens our concerns about ethnically motivated violence”, Laurence said.
War marked by gross atrocities
El-Fasher, the provincial capital of North Darfur province, is the military’s last stronghold in the sprawling region of Darfur. The RSF has bombed the city for more than a year, and last month, it imposed a total blockade on its hundreds of thousands of people.
The RSF has also repeatedly attacked Abu Shouk and another displacement camp, Zamzam, which was once Sudan’s largest, with more than 500, 000 people. The two camps are located outside el-Fasher and were largely emptied after a major RSF attack in April. They have been hit by famine.
The current war has killed more than 40, 000 people, forced more than 14 million to flee their homes and left some families eating grass in a desperate attempt to survive as famine swept parts of the country.
It has also been marked by gross atrocities, including ethnically motivated killing and rape, according to the United Nations and rights groups. The International Criminal Court has said it was also investigating alleged war crimes and crimes against humanity.
Cholera outbreak amidst war
Meanwhile, the World Health Organization (WHO) has said that regions like el-Fasher have also been experiencing “a severe humanitarian and public health crisis”, driven by the active conflict and mass displacement.
WHO spokesperson Christian Lindmeier told journalists that all 18 states in Sudan were reporting cholera, with 48, 768 cases and 1, 094 deaths reported this year up to August 11.
He said civilians have been facing severe food shortages, rising malnutrition deaths, and severely limited access to healthcare.
EXCLUSIVE: TV presenter Davina McCall has shared an update on her relationship with partner Michael Douglas admitting that she’s in no rush to marry him
Davina McCall makes marriage admission in rare insight into Michael Douglas romance (Image: Getty Images)
She is well known for hosting dating shows, helps set up friends in real life and is a self confessed romantic. But Davina McCall says she is unlikely to marry again as she wouldn’t change a thing about her relationship with Michael Douglas.
The TV host is fronting bold new dating series, Stranded On Honeymoon for the BBC. But when I cheekily point out it might be time for Davina to go on her third honeymoon – and her first in 25 years, she laughs and shakes her head.
“We go on honeymoons all the time, but without getting married,” she says of her and celebrity hairdresser and presenter Michael. Yeah, we’re in the honeymoon period even after all these years, exactly. I am really, really…I couldn’t be more happy. And sometimes there’s an idea of, why change anything?” It comes after Davina made a brave death admission after undergoing major brain surgery.
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“But I am also clearly not the only person to be asking her the question, as the pair have now been together for more than six years. This reminds me a lot of when I was 30,” Davina adds.
“Every time you go out with anybody, everybody’s like, ‘Are you going to get married? Are you going to get married?’.
“It’s not important anymore. I am just really happy, and I am just so happy to be so happy. And after the operation, everything is rose-tinted. I am so appreciative to be here. You know what I mean? It’s unbelievable.”
Davina was married twice and is mum to Holly, 23, Tilly, 21, and 18-year-old Chester.
Davina McCall made a confession about her relationship with her partner, Michael Douglas(Image: Getty Images for the NTA’s)
Her last marriage to Matthew ended after 17 years and she went public with her new relationship with Michael in 2019. The one constant has been her continuing to be on TV screens in a wide variety of shows.
Davina still has a zest for life that oozes out of her on screen and when she talks to you, and with more reason than ever as she suggested.
By her own admission she was “very honest about having a brain tumour” last year and shared the process from the diagnosis to her November operation to remove it, and finally the all clear earlier this year. It’s definitely gave her a slightly new outlook on life and even more enthusiasm for what she does – if that’s possible.
“I love my job. I run to work. I love the people that I work with, the crews that I’ve been lucky enough to be involved with. I mean, I’ve got some really good friends now that I’ve met through work. I am so lucky to do something I love so much.
Davina says she and Michael go on honeymoons all the time(Image: Hoda Davaine/Dave Benett/Getty I)
“The interest gets greater as you get older because I think as I get older, I appreciate it even more. We were just saying earlier how funny it is that I used to say it like 48, 49, “Oh, TV will retire me at 50’. And here I am at 57 and I’m still here.
“I think Cilla Black really changed things for women in TV. And I think a lot has changed and I now look at all the other female TV presenters and hopefully me, Jo Wiley, Zoe Ball, we’re all in the same boat together and we’re all still going, still relevant. I mean, they’re so cool, those two.”
Which brings us nicely onto to her new TV project. Stranded On Honeymoon Island features some speed dating before six lucky couples get matched up and take a leap of faith for love.
They are taken to the Philippines for a wedding and then a honeymoon on a remote beach to see if they have potentially found a partner for life.
Davina is happy not marrying Michael (Image: Gareth Cattermole/Getty Images)
“I am picky about what I do, and I do turn down lots of work. So this had to have something different to it and it didn’t disappoint. That was what was so nice about it.
“They see who they’re marrying at the wedding, and then they go to their stranded coves. And they are on six separate coves on an island, but they can’t see anybody. They’re completely alone.
“And then they can meet up after a while to meet the other couples. Everybody comes together. But then that causes its own set of problems as well because it’s like, ‘Oh, I remember you from speed dating’.
“So it’s really good. It’s gripping. It will make you laugh a lot. It’ll also make you cross your legs and want to pick up a cushion and put it in front of your face. But it’ll also make you cry because it’s really cute at times. I think the other thing that I loved at the end of it was that we’d all learnt something.”
Davina, who has previously host lots of other datings shows including Streetmate, My Mum, Your Dad, says she learned some important things about love from her late father.
Davina has shared an update on her relationship(Image: Hoda Davaine/Dave Benett/Getty Images)
She adds: “I do love ‘love’ and my dad, rest in peace, said something brilliant to me once, and he said, ‘In order for love to last and survive and be healthy, it has to have four things.
“So there has to be friendship. You have to like, not just love, but like the person that you’re with, that they are a person that you could just be friends with.
“And carnal love because you need to fancy them if it’s going to be a relationship, not just a friendship. And then he said, trust. You need to trust them and then you also need to respect them. And if any of those things are lacking, love can’t flourish. And I think he was absolutely spot on.”
Davina will also be hosting more Long Lost Family on ITV, she has her own podcast and a new book on the way. Success is almost guaranteed in some form but I wondered if her fears of some things not working are now lessened after her tumour helped her to put life in perspective. I think it is fair to say she no longer looks at the TV ratings too much.
“I mean, I’ve presented some turkeys and I’ve presented some shows that I absolutely loved. I did one for W Channel called The Davina Hour, and I ran to work. I loved hosting that show. No one watched it. I don’t know why.
“I loved My Mum, Your Dad. It didn’t get picked up for another series. And I don’t know why that happened, but it happened.
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“But it doesn’t hurt my feelings because all I ever can do with any TV show that I’ve done, is know that they were good shows, but for whatever reason it didn’t work. And I know that this is a great show. I know we’ve delivered as a production company together, a brilliant show, so I’m just proud of it.”
Stranded On Honeymoon Island starts on BBC1 and BBC iPlayer on Wednesday September 3 at 9pm.
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-9 M Siem (Ger); -8 M Fitzpatrick (Eng); -7 M Wallace (Eng), B Stone (SA), K Kobori (NZ)
Selected others: -6 A Fitzpatrick (Eng); -5 N Hojgaard (Den), A Sullivan (Eng) ;-4 R Hojgaard (Den), A Noren (Swe), D Willett (Eng); -3 E Ferguson (Sco); -1 M Penge (Eng), A Rai (Eng)
England’s Matt Fitzpatrick posted a three-under-par 69 to put himself in firm contention at the British Masters, moving just one shot behind leader Marcel Siem heading into the weekend.
The 2022 US Open champion rolled in his fifth birdie of the day from 22 feet on the 18th green at the Belfry after Siem also signed for a 69 – the German being helped by a 22-foot putt of his own for eagle at the par-five 17th.
“It was a good day all round,” said Fitzpatrick, who is hoping to earn a captain’s pick to appear for Europe at the Ryder Cup next month.
“I never really put myself out of position and drove the ball really well off the tee. If you can do that, you will give yourself a chance.
“I feel like my irons have been better. I didn’t chip and putt well at the start of the year and when you hit your irons better and start putting well it is a nice recipe for success.”
Siem sits on nine under, with Fitzpatrick eight under.
“I try and play my best golf every single week, every single day,” said Wallace, who also had a round of 69 on Friday.
“For me it is to try and deliver for the crowd here, the support has been amazing this week.
“If I can carry on doing what I’m doing and hopefully give them a ride for the week, try and win a tournament and then give Luke [Donald – Europe’s captain] a headache.”
Denmark’s Rasmus Hojgaard carded a one-under 71 and is at four under for the tournament, in a tie for 13th.
He is on course to claim the last automatic spot in Luke Donald’s team for the biennial contest between Europe and the United States, which takes place from 26-28 September.
