White House economic adviser Kevin Hassett says the US could take stakes in other companies in the sector.

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.

Blurring the lines between business and government.

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.

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.

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…

The stake in Intel is part of a broader strategy to create a sovereign wealth fund that could include more companies, Hassett said Monday.

President Donald Trump called the agreement "a great Deal for America" and said the building of advanced chips "is fundamental to the future of our Nation."

White House economic adviser Kevin Hassett says the US could take stakes in other companies in the sector.

The White House announced a near-10 per cent stake in chipmaker Intel on Friday that converts government grants into an equity share.

The government's stake in the computer chip maker is not without precedent, but it puts Trump at odds with some conservatives.