Under the deal, the US government is committing $8.9 billion to purchase Intel stock, which would give the government a 9.9% stake in the company. That's in addition to the $2.2 billion grant Intel has already received from the US under the CHIPS Act, which was signed into law by former President Joe Biden in 2022.

President Donald Trump said Intel Corp. had agreed to give the US government a 10% equity stake in the beleaguered chipmaker, with a formal announcement expected on Friday, according to people familiar with the matter.