Commerce Secretary Howard Lutnick told CNBC that the government has no intention of meddling in Intel's business, and will have its hands tied by holding non-voting shares.

Federal officials are considering the move because Intel, the last leading-edge chipmaker in the United States, has been struggling.

The Trump administration is reportedly discussing a deal to take a 10% stake in Intel, which could potentially leverage Chips Act funding as part of the equity.

Trump administration looking to convert funding from Chips Act into equity in the semiconductor manufacturer

The Trump administration wants U.S. chipmaker Intel to give the federal government an equity stake to receive $8 billion via the CHIPS and Science Act.

The potential deal could involve swapping government grants for shares in the chip making giant.

Commerce Secretary Howard Lutnick told CNBC that the government has no intention of meddling in Intel's business, and will have its hands tied by holding non-voting shares.

The move marks a clear change of direction just weeks after Trump called for CEO Lip-Bu Tan to resign over his ties to Chinese firms.

President Trump said on Friday that the U.S. government is looking to take a 10% stake in struggling chipmaker Intel.

The extraordinary development follows a meeting between CEO Lip-Bu Tan and Trump after he called for Tan’s removal.

President Donald Trump said that Intel has agreed to give the U.S. government a 10% stake in its business.

Intel deal could pave the way for the US to profit off CHIPS Act funding.

Equity investment of $8.9bn marks the Trump administration’s latest corporate intervention

President Trump earlier said the company's CEO agreed to the deal in a recent meeting at the White House.

Unprecedented deal comes after president demanded CEO Lip-Bu Tan to resign over his ties to Chinese firms

Intel is expected to receive about $10 billion in CHIPS Act grants from the government to help fund the building of chip plants in the U.S.

The United States government will own a 10% share of common stock in U.S. chipmaker Intel in exchange for $11 billion in already-promised federal funding.

The government is getting 433.3 million shares of non-voting stock priced at $20.47 apiece — a discount from Friday's closing price at $24.80.

WASHINGTON: President Donald Trump on Friday announced the US government has secured a 10 percent stake in struggling Silicon Valley pioneer Intel in a deal that was completed…