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.

Intel stock falls as the company seeks more investors after SoftBank deal and Trump administration considers equity stake.

Sen. Rand Paul (Ky.), a libertarian-minded Republican, criticized the Trump administration’s push to acquire a stake in U.S. chipmaker Intel, suggesting the move would be a “step toward socialism.” “If socialism is government owning the means of production,

Commerce Secretary Howard Lutnick has confirmed that the Trump administration is considering taking a stake in the struggling U.S. chipmaker Intel.

Intel Corporation INTC shares have risen in recent days with reports that the U.S. government could be acquiring 10% of the company. Entrepreneur and "Shark Tank" investor Kevin O'Leary isn't a fan of the potential government stake.

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,

By Rashika Singh and Arsheeya Bajwa (Reuters) -Intel shares rose nearly 3% on Friday on hopes of more financial aid for the turnaround of the struggling chipmaker after a report that the U.S. government may buy a stake.

A week after calling Intel’s CEO “conflicted,” Trump met with him. Now the U.S. is reportedly exploring a stake in the chipmaker.