The president said he hoped to “get as much as I can,” signaling a shift in the relationship between government and private business.

The $8.9 billion investment gives the US government a roughly 10 percent equity stake in Intel.

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 president said he hoped to “get as much as I can,” signaling a shift in the relationship between government and private business.

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