The US Secretary of Commerce confirms seeking to acquire Intel shares, stating no corporate governance rights According to Golden Finance, US Commerce Secretary Lutnik confirmed that the US government is in talks with Intel (INTC. O) to replace subsidies under the Chip and Science Act with equity holdings. Lutnik stated on Tuesday that the plan will not grant the US government governance or voting rights in companies. He criticized the chip bill signed by former President Biden, stating that it provides subsidies to semiconductor manufacturers without any return for American taxpayers. Lutnik said in an interview, "This is not governance, we are just converting Biden era appropriations into equity, which has no voting rights." The negotiations with Intel mark a significant shift in US semiconductor policy. If finalized, it may pave the way for similar agreements with other chip manufacturers. Lutnik also stated that the United States hopes to rebuild some of its chip manufacturing capabilities domestically for national security reasons.