Bernie Sanders Supports Trump’s Chipmaker Grant Conversion

U.S. Senator Bernie Sanders endorses a plan proposed by President Trump, which aims to convert grants given to chipmakers like Intel into government stakes. This proposal is part of the Chips and Science Act aiming to incentivize domestic semiconductor production with significant subsidies.

In a surprising political alignment, Senator Bernie Sanders has announced his backing for President Donald Trump's initiative to transform grants awarded to chipmakers into government ownership stakes. This plan includes major companies such as Intel receiving grants worth $10.9 billion.

Sanders emphasized the importance of taxpayers benefiting from potential profits generated by these companies due to federal support. This stance aligns with the objectives of the 2022 Chips and Science Act, designed to shift semiconductor production away from Asia to the U.S., supported by a substantial $39 billion subsidy package.

While Commerce Secretary Howard Lutnick explores potential equity arrangements, companies like Micron, Taiwan Semiconductor Manufacturing Co, and Samsung are still awaiting the disbursement of funds. The developments are being closely watched as they may significantly impact the semiconductor industry's dynamics.

(With inputs from agencies.)