U.S. Commerce Secretary Howard Lutnick on Tuesday confirmed the U.S. government is vying for a 10% stake in Silicon Valley pioneer Intel in an unusual deal that would deepen the Trump administration’s financial ties with major computer chip manufacturers and punctuate a dramatic about-face from the president’s recent push to oust the company’s CEO.

The US government is in discussions to potentially take a partial ownership stake in Intel, according to an Aug. 18 report by Bloomberg. The deal could help accelerate the construction of Intel’s long-delayed semiconductor manufacturing plant in Ohio.

The Trump administration wants a return on money the struggling semiconductor maker gets under the Biden-era CHIPS Act.

President Donald Trump on Aug. 7 called for Intel CEO Lip Bu Tan to resign, accusing him of being “highly conflicted” over reported investments in Chinese semiconductor firms. The remarks, expressed via a post on his Truth Social network,

Technology Technology   The Big Story Trump administration weighs Intel stake The Trump administration is considering taking a stake in Intel as a means of boosting the

Following a recent meeting at the White House, President Donald Trump seems to have completely changed his stance on Intel CEO Lip-Bu Tan.

The 65-year-old technology and venture capital industry veteran has amassed a fortune worth at least $1.1 billion, according to the Bloomberg Billionaires Index, which is calculating Lip-Bu Tan’s net worth for the first time.

The investment will make SoftBank Intel’s fifth biggest investor, with the conglomerate paying $23 per share of Intel common stock. Lip-Bu Tan, Intel’s CEO, said in a statement that he “appreciate (s) the confidence (SoftBank) has placed in Intel with this investment.”

Intel's rocky ties with TSMC, strained after Pat Gelsinger's "rude" Taiwan remarks and the loss of a key wafer discount, have left the chipmaker battling billions in foundry losses, mounting competition and leadership changes even as its stock rallies on fresh investment and government interest.

Shares in the chip maker rose following news of SoftBank’s planned investment and a possible stake for the U.S. government.

In a potentially dramatic shift for corporate America and U.S. industrial policy, the Trump administration is actively considering a plan to buy a direct stake in Intel, one of the world’s largest and most strategically important chipmakers and the recent target of fierce criticism from the president himself.