U.S. gives Intel $5.7B grant to support chip manufacturing, taking 10% equity stake.

The U.S. government has given Intel a $5.7 billion grant, taking a 10% equity stake in the company to prevent Intel from spinning off its foundry business. This move, part of the CHIPS Act, aims to support U.S. chip manufacturing. Despite the cash infusion, Intel's shares fell 8% due to concerns over the foundry division, though they're up 24% year-to-date. Intel also raised $2 billion from SoftBank.