The White House confirmed on Tuesday that the Trump administration is working on a deal that could see the US government taking a 10% stake in chip giant Intel. "The president wants to put America's needs first, both from a national security and economic perspective," White House press secretary Karoline Leavitt told reporters.

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

After months of turbulence, Intel Corp. bulls are finally being rewarded for their patience. But the stock’s sudden rebound comes with a worrying side effect: a valuation so high its most recent precedent is from the dot-com era more than two decades ago.

Intel stock was moving as it looks to be set to get the U.S. government as a shareholder. The Trump administration could pursue equity stakes in other companies including Taiwan Semiconductor Manufact

The stock closed nearly 7% higher Tuesday after Japan’s SoftBank (JP:9984) agreed to invest $2 billion in

Stock futures fell Wednesday as markets awaited earnings from big-name retailers and the release of minutes from the latest Federal Reserve meeting.These stocks were poised to make moves Wednesday:Palantir Technologies fell 0.