特朗普政府达成的协议旨在阻止英特尔出售其晶圆代工部门。
内容总结：
特朗普政府正通过注资协议强化对英特尔晶圆代工业务的关键决策控制。根据《金融时报》报道，英特尔首席财务官大卫·津斯纳在德意志银行会议上披露，美政府通过近期达成的协议获得英特尔10%的股权，并设置条款限制该公司在未来几年剥离其亏损的晶圆代工业务。
协议包含一项五年期认股权证：若英特尔对代工业务持股比例低于51%，美国政府有权以每股20美元价格追加认购5%股权。津斯纳表示该权证预计将失效，并指出"政府与英特尔的立场一致，不希望看到该业务被剥离或出售"。据悉，英特尔已因该协议获得57亿美元现金拨款，资金源自《芯片与科学法案》的未支付剩余补贴。
白宫新闻秘书表示协议细节仍在敲定中。此举被视为特朗普政府推动芯片制造回流美国的关键举措，但亦迫使英特尔持续运营亏损业务——其代工部门第二季度运营亏损达31亿美元，且面临来自分析师、董事会成员和投资者要求剥离该业务的压力。
英特尔拒绝就协议内容超出津斯纳表态的部分置评。
中文翻译：
特朗普政府似乎决意控制英特尔围绕其陷入困境的代工业务部门做出关键商业决策的能力。
据《金融时报》报道，在周四德意志银行的一场会议上，英特尔首席财务官大卫·津斯纳透露了该公司近期与特朗普政府达成协议的新细节——该协议使美国政府获得了英特尔10%的股权。
该协议的设计旨在惩罚英特尔若在未来几年内剥离其代工业务部门（该部门为外部客户定制芯片）。
上周达成的协议包含一项五年期认股权证：如果英特尔在代工业务中的持股比例低于51%，美国政府有权以每股20美元的价格额外认购5%的股份。津斯纳预计该权证将失效。
他表示："从政府的角度来看，他们与我们立场一致；他们不希望看到我们将该业务剥离或出售给他人。"
据路透社报道，津斯纳还透露，受上周协议推动，英特尔于周三获得了57亿美元现金（这笔资金源自美国《芯片与科学法案》此前已批准但尚未拨付的剩余补贴）。
白宫新闻秘书卡洛琳·莱维特今日向记者表示，协议细节仍在敲定中。
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英特尔拒绝就津斯纳言论之外的协议细节置评。
该协议结构明显印证了特朗普政府希望将更多芯片制造产能迁回美国的意图——当前行业众多参与者正转向台积电的海外制造业务。
但这项权证也迫使英特尔必须维持亏损的业务部门。英特尔代工部门第二季度运营亏损达31亿美元，一直是半导体业务的争议焦点。
分析师、董事会成员和投资者曾多次呼吁剥离这家举步维艰的代工部门。去年秋天此事原本有望成真，但在12月代工业务架构师、前首席执行官帕特·盖尔辛格突然退休后，计划戛然而止。
英文来源：
The Trump administration seems intent on controlling Intel’s ability to make key business decisions around its floundering foundry business unit.
According to reporting from the Financial Times, at a Deutsche Bank conference on Thursday, Intel’s CFO David Zinsner shared new details about the company’s recent deal with the Trump administration, which gave the U.S. government a 10% equity stake.
The deal was structured in a way to penalize Intel if it spins out its foundry business unit, which makes custom chips for outside customers, within the next few years.
Last week’s deal included a five-year warrant that would allow the U.S. government to take an additional 5% of Intel, at $20 a share, if the company held less than 51% equity in its foundry business. Zinsner said he expects that warrant to expire.
“I think from the government’s perspective, they were aligned with that; they didn’t want to see us take the business and spin it off or sell it to somebody,” he said.
Zinsner added that the company received $5.7 billion in cash on Wednesday, as a result of last week’s deal, according to Reuters. (That cash comes from the remaining grants previously awarded, but not yet paid, to Intel under the U.S. CHIPS and Science Act.)
White House press secretary Karoline Leavitt told reporters today that the deal was still being ironed out.
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Intel declined to comment on the deal beyond Zinsner’s remarks.
This deal structure is clearly a testament to the Trump administration’s desire to bring more chip manufacturing to the United States as many players in the industry turn to Taiwan Semiconductor Manufacturing Company’s offshore manufacturing instead.
But this warrant also forces Intel to keep a business unit that is losing money. Intel Foundry reported an operating income loss of $3.1 billion during the second quarter and has been a source of strife for the semiconductor business.
There have been calls from analysts, board members, and investors alike to spin out the struggling foundry unit, which looked like it might actually happen last fall, before Intel Foundry’s architect, former CEO Pat Gelsinger, retired suddenly in December.