The White House confirmed on Tuesday that the Trump administration is working on a deal that could see the US government taking a 10% stake in chip giant Intel. "The president wants to put America's needs first, both from a national security and economic perspective," White House press secretary Karoline Leavitt told reporters.

The chipmaker has faced serious uncertainty in recent months, with multiple quarters of revenue decline, but the agreement could involve trading Intel shares for existing governme

The Trump administration is reportedly considering having the US government take a stake in Intel, a company that was once one of America’s most important tech giants but which has since fallen on hard times.

Commerce Secretary Howard Lutnick said Tuesday that the government is seeking an equity stake in the chipmaker in return for federal grants authorized under the Biden administration.

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.

The Trump administration is in talks to take a 10% stake in Intel by converting some or all of the struggling company's Chips Act grants into equity, Bloomberg News reported, citing a White House official and other people familiar with the matter.

Lip-Bu Tan is set to meet with the president, who last week called for Tan’s removal.

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

Intel CEO Lip-Bu Tan was due to visit the White House on Monday after U.S. President Donald Trump called for his removal last week, a source familiar with the matter said.