15 Hot AI Stocks to Keep on Your Radar

11. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 82

Intel Corporation (NASDAQ:INTC) is one of the 15 Hot AI Stocks to Keep on Your Radar. On August 22, the company announced that the U.S. government will purchase $8.9 billion in Intel’s common stock under an agreement with the Trump Administration. Through the investment, the government will receive a 9.9% stake in the company.

433.3 million primary shares will be purchased at $20.47 per share, funded through $5.7 billion in remaining CHIPS Act grants previously awarded to the compay, while $3.2 billion will be done so from the Secure Enclave program. Together, this will bring total government investment in the semiconductor manufacturer to $11.1 billion, including $2.2 billion in CHIPS grants already received.

A joint release from the Trump administration and Intel has revealed that the United States will not be seeking direct representation on Intel’s board. It has also pledged to vote with the current Board of Directors on matters requiring shareholder approval, “with limited exceptions.”

“It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future. I negotiated this Deal with Lip-Bu Tan, the Highly Respected Chief Executive Officer of the Company. The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation.”

-US President Donald Trump