Advanced Micro Devices Inc. (NASDAQ:AMD) reversed its Friday gains on Monday after the Trump administration unveiled an $8.9 billion investment in rival Intel Corp. (NASDAQ:INTC), giving the U.S. government a 9.9% equity stake in the chipmaker.
The move, designed to bolster domestic semiconductor production, brings total federal support for Intel to $11.1 billion. Intel framed the agreement as a reinforcement of both U.S. national security and economic competitiveness.
