Commerce Secretary Howard Lutnick told CNBC the U.S. government wants a stake in Intel in exchange for CHIPS Act grant money promised under Biden.

The United States government is making an $8.9 billion investment in Intel, representing a 9.9 percent stake in the company, according to a press release the company published on Friday.

Intel CEO Lip-Bu Tan is scheduled to visit the White House on Monday following President Donald Trump’s call last week for his ouster over ties to China, according to a new report.

STORY: Intel CEO Lip-Bu Tan is set to visit the White House on Monday after U.S. President Donald Trump called for his removal last week. That's according to a Wall Street Journal report on Sunday, citing people familiar with the matter.

Treasury Secretary Scott Bessent said the White House wouldn't try to flex its power with a stake in Intel.

A $2 billion investment represents a roughly 2% stake, ranking SoftBank the fifth-largest shareholder of Intel, while a reported 10% stake by the U.S. would be worth about $10.4 billion as of Monday’s share price.

EDT Trump expected to unveil Intel (INTC) deal for stake on Friday, Bloomberg reports Published first on TheFly – the ultimate source for