This is a good thing.
It more closely mirrors TSMC and Samsung Foundries.
I know Lemmy largely won’t believe it, but not every molecule of air MAGA breathes is bad. In fact, this feels like a sharp reaction to stubborn neoliberal orthodoxy, hence folks like Bernie are nodding along. I mean, I tend to be more of a deficit hawk, but this is a worthy investment (with the right conditions and stipulations for Intel to not shutter long term projects for short term profit).
yeah its the broken clock thing. Still the piece I heard it from said it had not been done since ww2 but I swear in the car bailout we got some sort of equity we eventually sold. Later after sails it made a profit (not taking into account infaltion that I know of)
Release the Trump/Epstein files
if this was biden fox would be running 24/7 coverage about this communistic act
I’m against the government cutting a check to a corporation without extracting a direct, concrete benefit to the American taxpayer. So I’m in favor of this.
Dont be fooled. This federal asset will end up as a billionaire asset. Id take the win but I know better.
this. its great in that this is how all bailouts and such should be but its whose in charge of the implementation that makes it fucked.
According to Commerce Secretary Howard Lutnick, the plan would see the US disbursing approved CHIPS Act grants only after acquiring non-voting shares of Intel and likely other chipmakers. That would allow the US to profit off its investment in chipmakers, Lutnick suggested, and Sanders told Reuters that he agreed American taxpayers could benefit from the potential deals.
“If microchip companies make a profit from the generous grants they receive from the federal government, the taxpayers of America have a right to a reasonable return on that investment,” Sanders said.
The plan is that instead of just giving Intel the public’s money with no strings, the public would get something in return. I have to admit that doesn’t sound awful to me.
Yes. Of course. Because that’s what will happen, that money will go into improving services for the public rather than being funnelled into a rich pricks pockets. Totally what will happen, no reason to doubt that whatsoever.
Wait a second, that sounds like sarcasm ?
“Fascism should more properly be called corporatism because it is the merger of state and corporate power.”
— Benito Mussolini
Fascism is Imperialism turned inwards.
Fascism is capitalism in decline.
Both of these quotes get attributed to Lenin but I think only the second is.
They are essentially equivalent though. Imperialism is a requirement of capitalism and the methods capitalist use to oppress the third world get turned inward on the imperial core. You will see ICE use the same methods the IDF has used in the west bank and Gaza. These were training grounds for Fascist oppression and specifically in methods of crowd control.
Of course Bernie approves a socialist handout for an Israeli invested billionaire corporation.
Fuck all the way off
Where to? I do not have an Israeli kibbutz to go live in like Bernie Sanders.
Bro lived in an Isreali commune in the 60s and therefore supports the Isreali genocide happening now despite all the things he says and does that is evidence to the contrary?
Like sending taxpayer money in weapons to Israel and buying massive amounts of Intel stock
Other politicians being worse than Bernie does not make Bernie good.
What in the ever living fuck happened to “the free market”?!?!
Don’t innovate and sell faulty chips which ignite in people’s PCs? Should go out of business. This bail out nonsense is so stupid. Always privatize the gains and socialize the losses in good ol USA.
The Free Market was never anything but something to be prattled off by useful idiots.
Well this isn’t exactly a bailout per se. The government will own a chunk of Intel, which is pretty much the beginning of what should happen if something is “too big to fail” and needs a bailout: nationalization.
Now, who the hell knows if this will end up being a good use of tax dollars, but at the very least it’s not a free bailout for fucking billionaires whose milking of the system crashed it.
I wonder what this would mean for competition. Would US adopt rules that are beneficial to Intel to increase their share price?
How it may happen: Nvidia and AMD get restrictions on selling to China (already happening, but discussed more in the past weeks before this announcement) and can’t sell their best. Intel may be allowed to sell their newest tech to get a competitive edge which will even the playing field, or Nvidia and AMD can be told if they want an even playing field they must sell portions of their company to the U.S. government as well.
Want to sell the newest tech, throw in a couple board seats.
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Even with all of the bad press recently, they still outsell AMD CPUs by around 2:1. (source)
It’s bizarre to call them irrelevant when they still completely dominate the sector in sales.
I can see where this may help open the door / set precedent for the country to buy out or into companies long term… but when Intel declared they are basically dead in the water because their tech was at least 5 years behind on research now and in the last 5 years their stock as essentially halved, who can say what it will do other than cushion Intels fall.
Arc is good, just needs a bigger SKU and another generation.
Intels CPUs are not bad, especially their smaller cores, just sold in stupid overclocked configs. In comparison to AMD, they are are way better than bulldozer was back in the day.
Fabs are behind TSMC but still close. Compute and graphics APIs are a mess but getting better by the month.
Intel is on the brink of being fine if they can just stop the footgunning, canceling, dysfunctional delays and corporate Game of Thrones.
Where’s all the Bernie champs now?
I’ve had a bad vibe ever since the credit card bill (legislation, not a monthtly fee for anyone who wants to be pedantic).
Right here, this is fine with me.
The US was incredibly stupid to not demand shares in the US banks when they had them over a barrel and crapping themselves in 2008 - and instead gave them tens of billions of interest-free loans and literal handouts. Capitalism, right up until the companies that are ‘too big to fail’ go belly-up and fuck the entire world economy with their stupid decisions, then its, “oh can we please have some socialism? No, we will not agree to any public ownership or shares lol … And no there can be no strings attached - wtf we deserve those executive bonuses this year - just give us the money. Thx plebs! Thoughts and prayers for your mortgage”.
I feel a need to clarify: if the plan went as stated, where the US takes a stake in Intel and funnels money back into the federal government to do things the federal government needs to do, I would be completely fine with this.
More likely, this is a backdoor way to put money in the hands of billionaires.
Weird to ask about people whereabouts.
Just in case you didn’t read the article:
“If microchip companies make a profit from the generous grants they receive from the federal government, the taxpayers of America have a right to a reasonable return on that investment,” Sanders said.
