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The Trump administration may take a stake in Intel, causing the chip giant's stock price to rise.
On August 23, informed sources said that the Trump administration and Intel Corporation are preparing to announce details of an agreement on Friday that will allow the U.S. government to hold equity in the chip manufacturer. The specific details of this arrangement are not yet clear. The focus of negotiations is to convert funding under the CHIPS and Science Act into approximately 10% government ownership. This deal will be part of efforts to boost the struggling company, which President Trump believes is vital to U.S. national security.
Intel's stock price rose by 5.7%, reaching an intraday high.