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.

Intel CEO Lip-Bu Tan is scheduled to visit the White House on Monday following President Donald Trump’s call last week for his ouster over ties to China, according to a new report.

From Intel to Nvidia, the Trump administration is rewriting the playbook on how the presidency interacts with American capitalism.

Intel shares gained on Tuesday after the White House confirmed the Trump administration is negotiating a deal that could see the U.S. government take a 10% equity stake in the chipmaker, according to the BBC.

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

U.S. Commerce Secretary Howard Lutnick is looking into the government taking equity stakes in Intel as well as other chip companies in exchange for grants under the CHIPS Act that was meant to spur factory-building around the country,

The U.S. government aims to take an equity stake in Intel, Commerce Secretary Howard Lutnick said Tuesday morning.“We should get an equity stake for our money, so we’ll deliver the money which was already committed under the Biden administration,

Intel (INTC), reportedly, is in discussions with other large investors to get an equity infusion at a discounted price.