Commerce Secretary Howard Lutnick told CNBC the U.S. government wants a stake in Intel in exchange for CHIPS Act grant money promised under Biden.

U.S. Commerce Secretary Howard Lutnick is weighing whether the federal government should take equity stakes in semiconductor companies receiving CHIPS Act funding to build factories in the United States,

Intel stock falls as the company seeks more investors after SoftBank deal and Trump administration considers equity stake.

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

While an investment from SoftBank Group Corp. and rumors of a U.S. government stake sent Intel’s stock soaring Tuesday, Wall Street remains skeptical that throwing money at the chip maker will usher in a real turnaround.