U.S. Commerce Secretary Howard Lutnick on Tuesday confirmed the U.S. government is vying for a 10% stake in Silicon Valley pioneer Intel in an unusual deal that would deepen the Trump administration’s financial ties with major computer chip manufacturers and punctuate a dramatic about-face from the president’s recent push to oust the company’s CEO. The ambitions that Lutnick confirmed in a televised interview with CNBC came the day after various news outlets reported on the negotiations between the Trump administration and Intel. The talks come on the heels of a $2 billion investment that Japanese technology giant SoftBank Group announced late Monday.
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Delivery drones are so fast they can zip a pint of ice cream to a customer’s driveway before it melts.
Julep Toth, 9, carries a package delivered to her house via a drone, Thursday, July 31, 2025, in Frisco, Texas. (AP Photo/Julio Cortez)
Julep Toth, 9, looks at a drone as it arrives at her house with a delivery, Thursday, July 31, 2025, in Frisco, Texas. (AP Photo/Julio Cortez)
Janet Toth, left, and her daughter, Julep Toth, 9, open a delivery package after ordering a sandwich to their home Thursday, July 31, 2025, in Frisco, Texas. (AP Photo/Julio Cortez)
A drone, left, lands at a helipad as another lifts off with a DoorDash order, Thursday, July 31, 2025, in Frisco, Texas. (AP Photo/Julio Cortez)
Masslie Arias, of DoorDash, prepares to load a delivery package on a hovering drone Thursday, July 31, 2025, in Frisco, Texas. (AP Photo/Julio Cortez)
FILE - Intel CEO Lip-Bu Tan delivers a speech during the Computex 2025 exhibition in Taipei, Taiwan, Monday, May 19, 2025. (AP Photo/Chiang Ying-ying, File)
President Donald Trump says he's imposing a 100% tariff on computer chips— a move that raises the specter of higher prices for electronics, autos, household appliances and other essential goods that depend on the processors. Companies making computer chips in the U.S. or planning to do so will be spared the import taxes. During the pandemic, a shortage of computer chips increased the price of autos and contributed to higher inflation. Investors continued to bet that Big Tech companies such as Apple that have made huge financial commitments in the U.S. will be exempt from the chip tariffs.
Tesla gave Elon Musk a stock grant of $29 billion on Monday as a reward for years of “transformative and unprecedented” growth despite a recent foray into right-wing politics that has hurt its sales, profits and its stock price. In giving its billionaire CEO 96 million in restricted shares, the electric car company noted that Musk hasn’t been paid in years because his 2018 compensation package has been rejected by a Delaware court. Tesla on Monday called the grant a “first step, good faith” way of retaining Musk and keeping him focused, citing his leadership of SpaceX, xAI and other companies. .
