Here are some of the stories Wall Street is watching on Wednesday, Aug. 20. Intel (INTC) shares are sliding following a CNBC report that the chip giant may be in talk with other large investors to get an equity infusion but at a discounted price.

The Trump administration is in discussions to take a stake of about 10% in Intel, possibly by converting grants made to the company under the US Chips and Science Act into equity. That could allow Intel to tap about $10 billion in capital as Tan works out a strategy for revival.

Shares of AMD are continuing their slide Wednesday morning. Chip stocks fell Tuesday after SoftBank announced a $2 billion investment in rival Intel.

Shining a Spotlight on Intel Intel (NASDAQ:INTC) has emerged from the shadows of its semiconductor rivals, capturing the attention of investors and policymakers alike. After years of struggling to keep pace with competitors like Nvidia (NASDAQ:NVDA) and Taiwan Semiconductor Manufacturing (NYSE:TSM),

The potential deal would convert the CHIPS ACT grants into equity, but wouldn't come with governance rights in Intel, Lutnick said.

Intel gained a major backer Monday after SoftBank committed $2 billion for a roughly 2% stake, according to CNBC. SoftBank agreed to buy Intel shares at $23 each, slightly below Monday’s $23.66 closing price.