U.S. Commerce Secretary Howard Lutnick on Tuesday confirmed the U.S. government is vying for a 10% stake in Silicon Valley pioneer Intel in an unusual deal that would deepen the Trump administration’s financial ties with major computer chip manufacturers and punctuate a dramatic about-face from the president’s recent push to oust the company’s CEO.

Treasury Secretary Scott Bessent said the White House wouldn't try to flex its power with a stake in Intel.

Money might not be the solution to Intel Corp.’s problems.

The White House on Tuesday said it was “ironing out the details” of a deal that would entail the US government taking a 10 per cent stake in struggling US chipmaker Intel.

Intel shares are trading marginally lower Monday. The stock is digesting significant gains fueled by reports that the Trump administration is exploring a direct financial stake.