Howard Lutnick Calls CHIPS Act a ‘Giveaway to Rich Companies’ Like Intel

The article discusses Howard Lutnick's criticism of the CHIPS Act, which provides substantial subsidies to semiconductor companies like Intel. Lutnick, the CEO of Cantor Fitzgerald, argues that the act is a "giveaway to rich companies" and that the government should instead be focused on supporting small businesses and startups. The article notes that the U.S. government is in talks to acquire a 10% equity stake in Intel as part of the CHIPS Act. This suggests that the government is taking a more active role in the semiconductor industry, potentially in exchange for the significant financial support provided. Lutnick's criticism highlights the ongoing debate surrounding the effectiveness and fairness of government support for large, established corporations versus smaller, more innovative companies. The article does not provide a detailed analysis of the pros and cons of the CHIPS Act, but rather presents Lutnick's perspective as a counterpoint to the government's approach.