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.

Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick confirmed on Tuesday that the US government is considering an extraordinary investment in struggling chipmaker Intel. But they gave different answers about what the Trump administration sought to do with that stake.

From Intel to Nvidia, the Trump administration is rewriting the playbook on how the presidency interacts with American capitalism.

U.S Commerce Secretary Howard Lutnick has confirmed in an interview that the White House is in talks with Intel to acquire a 10% stake in the company. Lutnick confirmed this in a live interview with CNBC, saying that the government wants the grants given ...

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.

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

The billionaire investor often called Japan's Warren Buffett is making a huge bet on a legendary US firm. Shares jumped eight percent.