The White House is considering taking a 10% stake in chipmaker Intel per reports as talks with the company and Trump's team advance.

Commerce Secretary Howard Lutnick on Tuesday confirmed that the government wants Intel to cough up a 10% equity stake in exchange for nearly $8 billion in CHIPS Act funding approved by the Biden administration. Lutnick said the the stake would be a return on its “investment” in the struggling chipmaker.

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.

Lip-Bu Tan is set to meet with the president, who last week called for Tan’s removal.

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

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The White House is reviewing taking a 10% stake in chipmaker Intel, White House Press Secretary Karoline Leavitt explains the end goal of what would be the first of its kind move.