Lutnick just laughed it off, indignantly pointing out that “we were just giving away the money” under the previous terms of the CHIPS Act. But the legality of any equity stake would likely be challenged by both Intel shareholders and competitors in the industry, according to the Times.

President Donald Trump wants the U.S. government to own a piece of Intel, less than two weeks after demanding the Silicon Valley pioneer dump the CEO that was hired to turn around the slumping chipmaker.

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.

Hoping to bolster Intel’s $28 billion project in central Ohio, President Donald Trump’s administration is considering requesting Intel stock in exchange

Commerce Secretary Howard Lutnick has confirmed that the Trump administration is considering taking a stake in the struggling U.S. chipmaker Intel.

The Commerce secretary outlined a plan to blend the private and public sectors but denied it represents "state capitalism."