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.

President Donald Trump said that Intel has agreed to give the U.S. government a 10% stake in its business.

The administration confirmed earlier this week that negotiations were under way for the unusual arrangement, which is expected to reappropriate grants allocated to Intel under the 2022 Chips Act by t...