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.

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.

US Commerce Secretary Howard Lutnick said Tuesday that chipmaker Intel should give the government an equity stake in the company in exchange for grants earlier committed by former president Joe Biden's administration.

The billionaire investor often called Japan's Warren Buffett is making a huge bet on a legendary US firm. Shares jumped eight percent.

Japanese tech-investment giant SoftBank agreed to invest $2 billion in Intel, boosting the embattled chip maker at a t

Intel is getting a $2 billion lifeline from Japan's SoftBank, the companies announced Monday after signing a definitive securities purchase agreement.