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.

Intel looks to be set to get the U.S. government as a shareholder. The Trump administration could pursue equity stakes in other companies including Taiwan Semiconductor Manufacturing

In a just-breaking development, Bloomberg reports the Trump administration may take a 10% stake in Intel ( INTC -3.71%) -- which perversely is down 3.9% on the news, at least as of 12:35 p.m. ET. Probably not the reaction that either the Trump administration or Intel itself anticipated.

Shining a Spotlight on Intel Intel (NASDAQ:INTC) has emerged from the shadows of its semiconductor rivals, capturing the attention of investors and policymakers alike. After years of struggling to keep pace with competitors like Nvidia (NASDAQ:NVDA) and Taiwan Semiconductor Manufacturing (NYSE:TSM),

Despite the rocky relationship between President Donald Trump and CEO Lip-Bu Tan, the government is reportedly eyeing a stake in Intel.

Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.

President Trump had urged CEO Lip-Bu Tan to step down over his past ties with China. But the narrative flipped last week after a highly positive White House meeting

But Intel wasn't alone in winning CHIPS Act grants. As CNBC points out, Taiwan Semiconductor (TSMC) was awarded $6.6 billion in U.S. government semiconductor subsidies. And now it seems U.S. Commerce Secretary Howard Lutnick may want to convert that grant into an equity stake as well.