Sen. Rand Paul (Ky.), a libertarian-minded Republican, criticized the Trump administration’s push to acquire a stake in U.S. chipmaker Intel, suggesting the move would be a “step toward socialism.” “If socialism is government owning the means of production,

Liberal U.S. Senator Bernie Sanders on Wednesday threw his support behind President Donald Trump's plan to convert U.S. grants to chipmakers, including $10.9 billion for Intel, into government stakes in the companies.

Federal officials are considering the move because Intel, the last leading-edge chipmaker in the United States, has been struggling.