The plan stems from a meeting between CEO Lip-Bu Tan and Trump, who had demanded he resign over his Chinese investments
The Trump administration is in talks with Intel to have the US government potentially take a stake in the struggling chipmaker, Bloomberg News reported on Thursday, citing people familiar with the plan.
Intel’s shares surged over 7 per cent in regular trading and then another 2.6 per cent after the bell.
The plan stems from a meeting this week between President Donald Trump and Intel CEO Lip-Bu Tan, according to the report.
The meeting came days after Trump publicly demanded the resignation of Tan over his investments in Chinese tech companies, some linked to the Chinese military.
