CFO David Zinsner has also downplayed concerns that Intels manufacturing arm could fall under outside control.
Aug. 28, 2025 –
The chief financial officer for the chip manufacturer Intel, David Zinsner, has announced his company received $5.7bn as part of a deal negotiated with the administration of United States President Donald Trump.
During an investor conference on Thursday, Zinsner said that Intel, a leader in the US development of semiconductor chips, received the funds on Wednesday evening.
Last week, the White House revealed the federal government would take a 10 percent stake in the struggling tech giant, based in Santa Clara, California.
As part of the deal, the government negotiated a five-year warrant for an additional 5 percent of Intel’s shares, in case the company should cease to own more than 51 percent of its manufacturing operations.
“I don’t think there’s a high likelihood that we would take our stake below 50 percent,” Zinsner said. “So ultimately, I would expect [the warrant] to expire worthless.”
The Trump administration converted funds earmarked for Intel under the 2022 CHIPS Act — signed into law by former President Joe Biden — into capital to buy the US government’s stake.
In a news briefing on Thursday, however, White House press secretary Karoline Leavitt indicated the deal with Intel was still being negotiated.
“The Intel deal is still being ironed out by the Department of Commerce. The Ts are still being crossed, the I’s are still being dotted,” Leavitt said. “It’s very much still under discussion.”