The U.S. Commerce Department is weighing whether to take an equity stake in Intel and other chip companies in exchange for the CHIPS Act grants, according to two people with knowledge of the matter. Commerce Secretary Howard Lutnick raised the idea under a broader push to rebuild manufacturing in the US,

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.

The move by the U.S. could open the door for similar deals with other chipmakers that received grants under the Chips Act