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.

The US government is in discussions to potentially take a partial ownership stake in Intel, according to an Aug. 18 report by Bloomberg. The deal could help accelerate the construction of Intel’s long-delayed semiconductor manufacturing plant in Ohio.

An Intel deal would be one of the largest government interventions in private industry since the U.S. auto industry's bailout under President Obama.

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

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.

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