Intel ( INTC 5.64%) stock is leaping higher in Friday's trading thanks to a pair of bullish catalysts. The semiconductor company's share price gained 5.5% in a day of trading that saw the S&P 500 jump 1.5% and the Nasdaq Composite surge 1.8%.

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.

U.S. President Donald Trump is injecting nearly $9 billion into Intel in exchange for a 9.9% equity stake. But the money - which the struggling chipmaker was slated to receive anyway under a federal funding act - will not be enough for its contract-chipmaking business to flourish,

The Trump administration previously signaled interest in investing in the struggling chip maker and will use funds from Biden's CHIPs Act for the investment.

The Trump administration is talking about buying stock in Intel and starting a sovereign wealth fund. There isn't a dumber, more irresponsible financial idea swirling around in Washington.

The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average have gone for a wild ride since President Trump took office. With Trump's blessing, Commerce Secretary Howard Lutnick is tinkering with the idea of converting CHIPS Act grants into equity in some of Wall Street's leading semiconductor companies.

President Trump had urged CEO Lip-Bu Tan to step down over his past ties with China. But the narrative flipped last week after a highly positive White House meeting

Shining a Spotlight on Intel Intel (NASDAQ:INTC) has emerged from the shadows of its semiconductor rivals, capturing the attention of investors and policymakers alike. After years of struggling to keep pace with competitors like Nvidia (NASDAQ:NVDA) and Taiwan Semiconductor Manufacturing (NYSE:TSM),

Late Edition" focuses on the intersection of politics and global business. On today's show, Former Kansas City Fed President, Esther George, discusses whether or not when the Federal Reserve decides to cut rates will it risk Fed credibility.