President Donald Trump sealed a deal that gives the US government a nearly 10% stake in Intel Corp., part of an unconventional bid to reinvigorate the beleaguered company and boost domestic chip manufacturing.

The Trump administration previously signaled interest in investing in the struggling chip maker and will use funds from Biden's CHIPs Act for the investment.

The U.S. government is making an $8.9 billion investment in Intel common stock, a move the chip maker says reflects confidence in the firm to 'advance key national priorities' and expand domestic chip making.

Intel stock rallies as Trump confirms a 10% US government stake, sparking debate over state capitalism, reshoring benefits, and long-term risks for investors.

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories.

The US government has taken an $8.9 billion stake in Intel (INTC), buying 433.3 million shares in the chipmaker at a price of $20.47 per share, giving the government a 9.9% stake in the chipmaker. The government’s investment in Intel will be a passive ownership,