Trump administration declined to join Intel's $20B secondary offering but gave its blessing

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The Trump administration decided not to participate in Intel's secondary offering but approved of the semiconductor giant proceeding with the sale, Semafor reported. Intel CEO Lip Bu-Tan spoke to Commerce Secretary Howard Lutnick, who approved of Intel's $20 billion offering, according to people familiar with the matter. While Intel has an anchor investor for the offering, the U.S. government is not one of them. Intel initially planned to raise $15 billion but upsized the deal to $20 billion after strong investor demand, selling more than 210 million shares at $95 each. The Trump administration acquired a 9.9% stake in Intel last year, though that will now be diluted as a result of the new offering.

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Intel's $20B secondary offering upsized due to strong demand, with government approval, though not participating.

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