The U.S. government is officially taking a 10% stake in chipmaker Intel. National Economic Council Director Kevin Hassett discusses the terms of the deal and hints that more transactions may be on the administration’s agenda. In other transaction news, Keurig Dr Pepper has agreed to acquire JDE Peet’s for $18 billion. Plus, sports entrepreneur Mark Ein is part owner of the Washington Commanders and owner of the DC Open, a tennis tournament in Washington. After the first matches of the US Open in New York, Ein discusses the evolution of the players on and off the court, and highlights the opportunity that the US Open “experience” model offers to other sports.

Kevin Hassett - 19:50

Mark Ein - 34:48

In this episode:

Mark Ein, @Markein

Leslie Picker, @LesliePicker

Wilfred Frost, @WilfredFrost

Andrew Ross Sorkin, @andrewrsorkin

Katie Kramer, @Kramer_Katie

The 5 things you need to know before the stock market opens today: Spotify is looking to raise prices, the Trump administration has ordered Danish wind power company Orsted to halt development on its project off the coast of Rhode Island, China Evergrande Group was delisted from the Hong Kong Stock Exchange, Keurig Dr Pepper will pay $18 billion for coffee brand JDE Peet’s, and Coca-Cola is reportedly exploring splitting with its own coffee brand, Costa.

Squawk Box is hosted by Joe Kernen, Becky Quick and Andrew Ross Sorkin. Follow Squawk Pod for the best moments, interviews and analysis from our TV show in an audio-first format.

As Federal Reserve Chair Jay Powell speaks at the Jackson Hole Economic Policy Symposium, another Fed official remains in the headlines. Former Assistant AG at the DOJ Jonathan Kanter discusses allegations against Fed Governor Lisa Cook. Tennis coach and former pro Brad Gilbert discusses the evolution of tennis and racquet sports ahead of the U.S. Open kick off this weekend in New York. Plus, Elon Musk asked Mark Zuckerberg for help in an OpenAI takeover earlier this year, and Nvidia has reportedly asked some suppliers to stop production of components needed for the H20 chip planned for the Chinese market.

Brad Gilbert - 15:33

Jonathan Kanter - 28:06

In this episode:

Brad Gilbert, @bgtennisnation

Becky Quick, @BeckyQuick

Andrew Ross Sorkin, @andrewrsorkin

Cameron Costa, @CameronCostaNY