Trump, backed by his team of Wall Street financiers, took the unprecedented step of seeking to collect a portion of money generated from sales of AI chips to China by Nvidia Corp and Advanced Micro Devices Inc. And in a move that could see the US government become Intel Corp’s largest shareholder, the administration is said to be in talks for taking a 10% stake in the beleaguered chipmaker. Last month, the Pentagon also decided to take a US$400 million preferred equity stake in a little-known rare earth mining company.
He didn’t campaign on it. It wasn’t even broached during his first administration. He criticised his predecessor for it.
But this month President Donald Trump made clear that he’s willing to use the full force of the US government to directly intervene in corporate matters to achieve his economic and foreign policy goals.
