Under the deal, the US government is committing $8.9 billion to purchase Intel stock, which would give the government a 9.9% stake in the company. That's in addition to the $2.2 billion grant Intel has already received from the US under the CHIPS Act, which was signed into law by former President Joe Biden in 2022.

President Donald Trump said on Friday the U.S. would take a 10% stake in Intel under a deal with the struggling chipmaker that converts government grants into an equity share, the latest extraordinary intervention by the White House in corporate America.