Beijing has reportedly moved to curb sales of Nvidia Corporation's NVDA China-specific AI chip after U.S. Commerce Secretary Howard Lutnick made remarks about export policy that Chinese officials reportedly found "insulting.

Commerce Secretary Howard Lutnick told CNBC the U.S. government wants a stake in Intel in exchange for CHIPS Act grant money promised under Biden.

U.S. Commerce Secretary Howard Lutnick is looking into the federal government taking equity stakes in computer chip manufacturers that receive CHIPS Act funding to build factories in the country, two sources said.

"The EU has agreed to open its $20 Trillion market. The second largest in the world behind the great USA," Howard Lutnick said.

Lutnick just laughed it off, indignantly pointing out that “we were just giving away the money” under the previous terms of the CHIPS Act. But the legality of any equity stake would likely be challenged by both Intel shareholders and competitors in the industry, according to the Times.

"This is a horrible precedent. This is socialism. All of you people were freaked out about Mamdani in New York City"

Commerce Secretary Howard Lutnick expressed confidence Sunday that the Trump administration will cut trade deals with key U.S. trading partners in the coming weeks — before steep tariffs kick in for dozens of countries.

U.S. Commerce Secretary Howard Lutnick is looking into the government taking equity stakes in Intel and other chipmakers in exchange for grants under the CHIPS Act, which aims to spur factory-building in the U.

During a budget hearing held by the Senate Appropriations Committee several weeks ago, Commerce Secretary Howard Lutnick pretentiously talked down to Senator Gary Peters (D-MI) for asking questions. Instead of answering the questions,